Airbnb reverberations being felt across multiple themes #Airbnb
Change is never easy, no matter what it is and how it takes shape.
In this case, as the adoption rate of Replacement / Demand player Airbnb and other peer-to-peer platforms approaches the mainstream, the economic shifts occurring in local cities is dramatic. The obvious is the shift in dollars from hotels into the hands of local homeowners, which course, as this shift happens, it appears local rents could be edging upwards (or at least locals are blaming Airbnb for the increasing rent levels). Local hotels aren’t happy and neither are the local residents.
BUT, on the other hand, it appears Airbnb is making desirable cities more affordable for average travelers and by all accounts, tourism dollars are reaching all-time highs, which brings money into local businesses and helps to stock the reserves of the local municipalities in the form of tax dollars.
And on yet another hand (we’re starting to feel like an octopus) there is the need to travel to the destination, which is good for the airline industry and can be seen in the performance of much of the airline industry (mixed in too with lower fuel prices). And how are these transactions completed? Cashless payment processors of course.
Of course, if the rents are too high and local residents can’t afford to live in these cities, when travellers come to visit and there’s no one to work in the restaurants, stores, museums and attractions, well then the whole thing kind of falls apart.
In Amsterdam, authorities are researching if Airbnb and other companies are driving up rents – officials say there are too many factors to blame rising prices on home-sharing sites for now.Amsterdam has been at the forefront of cities working with homestay sites (Credit: Alamy)“What started out as a nice home-sharing platform became a way for people to make money,” says Amsterdam city spokesman Sebastiaan Meijer. “Certain streets and neighbourhoods now have more tourists than residents. Our interest is to protect the city against illegal hotel owners who sell out the streets.”
Source: BBC – Capital – Is Airbnb making it impossible to find a house?
