Travel is one of the world's largest industries, surpassing that of oil exports, food products and automobiles. The sector grew at 3.6 percent to contribute a record $9.3 trillion and 328 million jobs to the world economy in 2019. Although positive, this continued growth comes with its challenges, such as over-tourism, where too many tourists are overwhelming some destinations.
The more popular destinations are feeling the pressure and real estate owners need to understand how they are impacted by:
- Tourism taxes
- Hotel supply restrictions
- Regulations of the home-sharing sector
- Tourism flow management
- Enhancing accessibility
What’s the solution to over-tourism? Read the full article.