Published on : Saturday, April 4, 2020
The app connected fly-by-night tourists and short-term renters over the past decade to cozy lofts and five-star experiences morphed into a gig-economy nightmare for cities like Paris, Amsterdam and Barcelona.
An over-supply of tourists due to booming demand, an under-supply of housing for locals and there was an extra strain on public infrastructure. Due to this many scammers and fraudsters prospered and many cities started a clamp-down.
Humanity stopped in its tracks if one could walk freely the world’s most famous city streets.
Bustling hotspots like the Sydney’s Opera House, Bangkok’s night markets, the Louvre Museum in Paris and the Colosseum in Rome are emptied due to the lockdown.
The ecosystem surrounding them that sprang up is falling apart like the Airbnb,
There are bookings slump in apartments which were one reserved for tourists anywhere from 41% to 96% and are currently on long-term rental sites or offered to health workers in solidarity.