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New framework for short term holiday letting

Release Date: 20/10/2016

The Illawarra Business Chamber welcomes the findings of a NSW Parliamentary inquiry into the regulation of short term holiday letting suggesting the proposed approach will help Illawarra tourism operators realise the benefits from the sharing economy.

“If supported the framework would provide an opportunity to help grow and diversify regional tourism and provide visitors with a unique experience in the homes of local residents through short term hosting platforms,” said IBC Executive Director, Chris Lamont.

“Hosting platforms such as Airbnb can help where there is a lack of supply to meet the demand challenges faced during peak holiday periods, events and festivals,” said Chris Lamont.

The IBC maintains, however, there is a need for more investment in accommodation options across the region to meet the growing demand from domestic and international tourists.

“Research indicates that the sharing economy introduced new people to travelling and new visitors to the region will look to spend their money on an array of different experiences and activities,” said Chris Lamont.

“This is a sector which, if supported with the necessary infrastructure upgrades, such as road and rail improvements, could support substantial job creation and assist in addressing youth unemployment in the region.”

Estimates indicate that the visitor economy is worth almost $1.3 billion per year to the Illawarra-Shoalhaven, and brings in over 6.7 million visitors each year to the region.

“The Illawarra’s proximity to Sydney makes it a perfect spot for domestic and international tourists, providing an ideal destination to enjoy a genuine Australian experience,” Mr Lamont said.

Media contact: Katherine Baker 0417 135 858

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