Short term rentals: key stats and issues
The short-term rental market has rapidly expanded in recent years. Although the variety of accommodation solutions, such as private properties rented out as guest accommodations, can have a positive effect on tourism, its exponential growth has caused issues.
Local communities have been negatively affected by the lack of available housing in popular tourist destinations, the increased rental prices and the overall impact on the liveability of some areas.
While the pandemic caused a decline in guest nights in 2020 compared to 2019, figures for 2021 surpassed pre-pandemic levels and have been rising since then. The trend continued in 2023, as four leading platforms (AirBnb, Booking, Expedia and TripAdvisor) recorded more than 300 million nights spent in short-stay accommodation.
Nights booked via these online platforms rose by 13.4% in the third quarter of the year, which is traditionally the strongest one, compared to the same period in 2022.