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Short-term Holiday Letting Makes a Difference to NSW Tourism Sector

Release Date: 20/04/2017
The Sydney Business Chamber says a process of community and industry consultation on the appropriate regulations to support short-term holiday letting should create a climate for community confidence in a sector that is making a difference within the thriving tourism sector. 
“The Chamber welcomes the NSW Government’s decision to seek input from the short-term accommodation industry, the broader tourism sector and the community to ensure regulations for private holiday letting in NSW support a model that allows the sector to flourish whilst ensuring poor practice is able to be managed,” said Patricia Forsythe, Executive Director of the Sydney Business Chamber.
Sydney has embraced short-term private letting with more than 25 per cent of national lettings clustered in suburbs in Sydney.
“Tourism represents more than 1 in 14 jobs in the NSW economy and its place within the service-based economy is essential to NSW’s economic success,” she said.
Airbnb told the NSW Parliamentary Inquiry that in 2014-15, Airbnb-related spending generated $540 million in the NSW economy and the growth rate in the past 12 months of guests was 167 per cent. 
“Too many people see Airbnb as a viable option both as host and guest and it would not make sense to try and put the genie back in the bottle.
“We look forward to the options paper due next month and hope the community sees this as the opportunity to ensure a proper framework for home-sharing to operate in the future,” Mrs Forsythe said.  

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