Thailand would benefit from home-sharing tourist economy: Agoda

[webfact]

Thailand would benefit from home-sharing tourist economy: Agoda 

By   KWANCHAI RUNGFAPAISARN 
THE NATION

 

Allen

 

THAILAND shows its potential in becoming a hub of home-sharing market in Southeast Asia, according to executives of travel company Agoda.

 

Agoda is part of Booking Holdings, the world’s largest travel company by market value.

 

Peter L Allen, managing director of the public affairs department, says the home-sharing economy has been growing exponentially all over the world and the travel company believes the growth will continue and have a positive impact on the Asean economy and communities.

 

He said a Nielsen survey found that 78 per cent of respondents across Asia-Pacific were willing to share or rent their own assets or services, and 81 per cent were willing to use products or services within the sharing economy.

 

“Travellers are increasingly looking for accommodation options that cater to their unique situations and needs, whether they are travelling in groups (including families with children), have specific dietary requirements, or are looking for customised experiences,” said Allen. 

 

“Even business travel will contribute to the demand for home-sharing accommodation, as more travellers combine leisure activities and add excursions to their business trips,” he said.

 

Allen said that as one of the most popular travel destinations in the world, Thailand already has all the potential to become a hub for the home-sharing market in Asean. Thailand and its people are known for their hospitality and will make positive contributions to the thriving home rentals market, he added.

 

“The country is embracing this new trend and we also believe that the government would like to support this as well. All stakeholders will need to work together to gain the benefits,” he said.

 

Allen said that compared to the traditional rental services, home-sharing offers more choice of accommodation and price points for travellers, who vary in their requirements, needs and budgets.

 

From the hosts’ perspective, the home-sharing economy helps homeowners supplement their income and help pay for property upgrades and renovation, mortgage and rental costs, daily living expenses, children’s education and retirement savings, according to a press release from the company.

 

“Communities will also benefit from the home-sharing economy, as the increased foot traffic from short-term rentals supports local businesses and creates jobs as travellers spend money on food, drinks, shopping, local transportation and entertainment. Additional tax income generated from short-term rentals may be put towards civic programmes, from fire and police departments and welfare services to destination marketing support, education and local arts,” he added.

 

Allen said that the travel space is evolving quickly, which brings in constant new challenges and opportunities.

 

“Disruption is not always negative. If we look specifically at shared accommodations, they have the potential to expand the size of the travel market, spread wealth by bringing revenue to hosts and local businesses, create new jobs and even increase sustainability,” he said.

 

“Challenges faced by the players in the hospitality industry within Thailand and around the world can be overcome through discussion and an understanding of what the benefits can be for all stakeholders. Regulators and legislators need to work together with hosts, guests and communities to find a mutually suitable solution, especially in popular tourist destinations such as Thailand,” said Allen.

 

Rosenstein

 

Allen and Robert Rosenstein, the founder and chairman of online travel giant Agoda Company Pte Ltd, have co-authored “At Home Around the World: The Short-term Rentals Handbook for Guests, Hosts, Neighbors and Governments”.

 

The book cites policies, trends and data behind forecasts showing explosive industry growth. It presents data about the massive growth and positive economic impact of the home-sharing market around the world. They draw on research to discuss the rise in home-sharing and to argue for its value and benefits to homeowners, travellers and communities large and small.

 

“Through our conversations with regulators and neighbourhood advocates around the world, we realised that governments are struggling with how to understand and anticipate the role that home-sharing plays in their cities. As this relatively new industry has emerged, a patchwork of regulations has been created,” said Rosenstein.

 

“We want to collect the lessons from these natural experiments and start to showcase how the successful approaches work,” he said.

 

The book notes that the global sharing economy is growing at an annual rate of 30 per cent, compared to a forecasted 3 per cent annual growth rate for the “traditional rental market”, and is expected to equal that market by 2025. 

 

In addition, total global revenues for the home-sharing industry alone are expected to reach US$169 billion (Bt5.53 trillion) by the end of this year, a growth level two to four times as fast as the overall global economy.

 

Source: http://www.nationmultimedia.com/detail/Tourism/30360835

 

-- © Copyright The Nation 2018-12-21

[Thailand]

Agoda, Booking.com etc are allready chocker with illegal homestay advertising in Thailand.

[mok199]

Not sure I would want a traveler who cant afford 300bt a night ,sleeping in my home...BUT THATS JUST ME

[Chang_paarp]

1 hour ago, webfact said:

Thailand would benefit from home-sharing tourist economy: Agoda 

They would say that.

 

1 hour ago, webfact said:

 

THAILAND shows its potential in becoming a hub of home-sharing market in Southeast Asia, according to executives of travel company Agoda.

 

Just what Thailand needs, to become another hub. The place is all hub and no wheel.

[Justgrazing]

2 hours ago, webfact said:

Travellers are increasingly looking for accommodation options that cater to their unique situations and needs, whether they are travelling in groups (including families with children), have specific dietary requirements, or are looking for customised experiences,” said Allen. 

Sharing a house with a Python and Cobra having a bundle unique enough .?

 

[alant]

4 hours ago, webfact said:

Thailand would benefit from home-sharing tourist economy

But it will fail to take the opportunity as it has with;

Ride sharing; fail

Residence and Citizenship for foreigners; fail

Benefiting from international expertise in the workplace; fail

Corruption; fail

and so many more.

Never mind

[johng]

With the recent crack down on "unlicensed" hotels...this seems like a non starter.

[Destiny1990]

Somehow it works nicely in most other countries except here its seen as something criminal.

[madmitch]

And of course all these homes will register their guests with Immigration.

 

The online agents have just about exhausted the hotel market - there aren't many hotels, hostels and guesthouses that don't use them now - so they're looking at ways to increase their earnings.

[DrTuner]

Yes, the benefits are pissing off residents with houses in moobans full of Indians and Chinese. I'm all for it as long as they also declare open season and distribute shotguns to the other house owners. NIMBY FTW.

[zyphodb]

The hiso's own the hotels, so the last thing the Thai so called "government" are going to do is encourage home stays or shares that are going to take business away from the hotels that their friends & string pullers own...

[Elkski]

I think the hotel lobby group helped my city, Sandy Utah write their new short term rental ordinance.   A one night unoccupied must be between each separate rental term.  Which would reduce the income by 50% if each stay was one night.  If average stay was 3 days this  would reduce income by 25%.   Not sure the logic behind that rule other than to reduce profits.     I stayed at 4 air bnb my last 2 trips in BKK.  The last time (Nov) the gal wanted a passport photo to turn in a  tm30 to Thai government.