November 1, 2016
A new study has pegged the economic impact of Airbnb on the Vancouver economy at more than $400 million — but not everyone thinks it’s money well spent. While the study highlighted many positive impacts of Airbnb, it failed to impress Vancouver city Coun. Geoff Meggs, who says the corresponding negative impacts were overlooked. “This is looking at the churn of money,” said Meggs on Tuesday in Vancouver. “The concern that we have is whether there is an impact on our housing stock and this doesn’t speak to that. If the rents are going up and vacancies are going down as a result of reallocation of space to short-term rentals, I think that’s an economic loss.”…
Source: http://www.cbc.ca/news/canada/british-columbia/airbnb-study-vancouver-1.3830803
