KUCHING: Ahead of the 2024 Budget announcement on Oct 13, Airbnb, through a statement issued on today (Sept 29), has shared several proposals for the government’s consideration.
Among the proposals is recognising the potential of the sharing economy in the hospitality sector, as short-term rental accommodations (STRA) are set to play an important role as travel continues to rebound.
“As travel rebounds, hosting on Airbnb will help many Malaysians generate an extra source of income and we encourage the federal government to support and endorse the national STRA Guidelines that are currently being developed by the relevant authorities with feedback from various tourism players,” it said in the statement.
Furthermore, the global hospitality giant advocated for the federal government to include STRA hosts, including individuals and small and medium enterprises (SMEs), in key incentives traditionally reserved for traditional tourism players.
Additionally, collaborative initiatives with financial institutions are suggested to offer low-interest financing schemes to support young Malaysians in acquiring their first properties, through the income generated through STRA activities.
To this end, its head of Public Policy for Southeast Asia, India, Hong Kong and Taiwan, Mich Goh has affirmed the platform’s commitment to working with the Malaysian government to bolster the tourism economy.
“This includes advancing our strategic partnership with the Malaysia Digital Economy Corporation (MDEC) to establish Malaysia as a preferred digital nomad hub in the region.
“We believe that this provides a strong foundation for tourism promotion, further enhancing Malaysia’s appeal among international travellers ahead of Visit Malaysia Year 2026,” she said in a statement.
According to the Department of Statistics Malaysia (DoSM), tourism accounted for 14 per cent of Malaysia’s GDP in 2022.
Oxford Economics, in a report commissioned by Airbnb, revealed that the platform contributed over RM5bil to Malaysian GDP and supported almost 57,000 jobs in 2022, constituting approximately 4.9 per cent of the tourism industry’s GDP contribution.
Airbnb’s impact extends beyond accommodation, creating economic ripple effects supporting various businesses and generating jobs that contribute significantly to local communities.
