April 22, 2016
Sharing apps that enable travelers to book stays in private homes are changing not only the nature of urban tourism, but the cities themselves—for better and for worse. In many cities, the surging popularity of services like Airbnb Inc. that let homeowners turn their properties into vacation rentals is bringing tourists into neighborhoods they never visited before, experts studying the issue say. New revenue and revival can come into poorer areas as a result. But in some of these neighborhoods, there can be an unfortunate side effect: An influx of tourists, and the money they bring, can lead to higher rents and retail prices, and the displacement of locals who can no longer afford to live there. As this continues, experts say that cities will need to find ways to better manage tourism so that they can preserve their unique cultures while staying open to the world.
Source: http://www.wsj.com/articles/how-airbnb-could-change-life-for-city-residents-1461550187