SHARING ECONOMY IN THE SPOTLIGHT AT NATIONAL TOURISM STAKEHOLDER FORUM
The recent National Tourism Stakeholder Forum (NTSF) saw a number of pertinent industry issues being presented and discussed by various stakeholders. In this and the next few newsletter editions, we will be unpacking these presentations. In this week’s edition we focus our attention on a presentation delivered by the NDT, which gave an update and key global trends on the Sharing Economy:
An NDT update on the Sharing Economy
A senior representative from the NDT presented an update on the Sharing Economy. Globally, the phenomenon has occurred with a disruptive effect to many sectors consequently calling for urgent government intervention. A global analysis study conducted by the NDT revealed the following emerging trends:
- A majority of Sharing Economy platforms are regulated at city level
- Registration (of some sort) of these platforms are required by a growing number of local authorities in many countries
- Some negative impacts of the Sharing Economy include unfair competition; possible job losses; loss of revenue by local authorities, safety concerns which can have negative effects on the reputation of a destination and backlash from local communities due to competition for accommodation and other tourist facilities
The presentation also included a summary of the recent NDT Sharing Economy Dialogue:
- The Sharing economy is a reality and should be encouraged as a driver of economic development.
- All stakeholders acknowledged the need for coexistence and for government to level the playing field by ensuring compliance with regulations. It was also noted that there are opportunities for collaboration.
- It was agreed that government needs to be proactive and where necessary, assist traditional platforms to adapt and change.