EDITOR'S COMMENT
Mexico City is joining a growing list of cities and markets seeking to impose stricter limitations on short-term rentals, in order to balance the competition with traditional hotels. As opposed to solely tourists, however, it appears that digital nomads are taking local citizens' blame for wider housing issues.
The Mexican capital is becoming an increasingly saturated market, which the government attributes to an influx of remote workers [particularly from the United States] and the shortage of social housing, much of which was rebuilt after a powerful earthquake seven years ago.
Then, a partnership between the local government, Airbnb and UNESCO in October 2022 to entice more remote workers to the city after the pandemic only added fuel to the fire. It sparked protests from communities highlighting a correlation between rental prices and the presence of Airbnb, concerns over rising inflation, and a widening disparity between them and wealthier employees jetting in from abroad.
While the left-wing populist Morena party hailed the regulations as a means of contributing to "a fairer and more sustainable competitive environment”, Mexican vacation rental association APAR suggested that the initiative had been rushed through and that the occupancy limit would “disincentivise investment in the real estate sector”.
• We're now less than a month out from our second STRz Summit in London and it is shaping up to be an incredible event with a host of high-calibre industry leaders speaking across a diverse, critical agenda of sessions. Tickets for the Summit, which precedes Scale UK and World Travel Market, can be bought now at this link. See you on 5 November!
• And don't miss our upcoming STRz webinar tomorrow [8 October - 4pm BST] on 'Social and corporate responsibility: A force for good in travel and tourism' - featuring speakers from Lodgify, Simpson Travel, LuxGive and Travel Chapter. Book your virtual seat here.
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