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Published on : Sunday, August 13, 2017
Recently, MoU or a Memorandum of Understanding has been signed between the Bahamas Ministry of Tourism and Airbnb in order to normalize the rental scenario of vacation homes and increase endorsement promotion of tourism sector. At a press conference at the Ministry of Tourism and Aviation on Wednesday, Aug, 9th, the agreement was signed.
Hon. Dionisio D’Aguilar, the Minister of Tourism and Aviation, considered it as kind of a benevolent agreement between two partners of the industry who have agreed to assist in areas of mutual interest.
Sharing of aggregate Airbnb Bahamas data, provision of information to Airbnb on Bahamas industry-related laws, and examination of Airbnb’s collection and remittance of any applicable taxes are some of the areas of mutual interest.
Minister D’Aguilar said: “As the leading tourism authority in the country, the Ministry of Tourism acknowledges the reality of vacation home rentals, which provide alternative guest accommodations to traditional hotels.
“In acknowledging this reality and seeking to manage and shape it for the benefit of all stakeholders involved, the Ministry has sought out partnership with Airbnb Inc., a key player in the global home sharing economy.”
Airbnb reports that there are 1,900 active listings in the Bahamas on its platform. On an average, a typical host earns approximately USD $6,000.00 a year and guests stay an average of 4.6 nights. In Bahamas, number of guest arrivals via Airbnb in the last one year has grown by 95 percent.
“When we consider the entire home-sharing market in The Bahamas, the actual numbers of operators of vacation home rentals are much higher, taking into account that Airbnb is not the only booking website that hosts use,” the minister said.