July 27, 2017

Airbnb Looks to Latin America, Now Its Fastest-Growing Market

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Image Courtesy of Airbnb

As Airbnb Inc. turns its attention to Latin America, the often-combative company is taking an unusual approach. It’s giving local governments what they want.

The home and apartment-rental company said it will collect and remit taxes in Mexico City, the first such arrangement in Latin America. Airbnb will provide 3 percent of revenue generated from bookings in Mexico City to the city’s government. Hotels there also pay a 3 percent lodging tax to local officials. Airbnb said it intends to replicate the tax model throughout the region.

Latin America is now Airbnb’s fastest-growing market, surpassing Japan . The company has 250,000 properties listed in the region, which encompasses Mexico, South America and parts of the Caribbean, including Cuba . Airbnb said bookings in Latin America have increased 148 percent in the past year. The privately held company declined to disclose revenue.

Airbnb is taking a cordial tact with officials in advance of major conflicts. While it has agreed to report taxes on behalf of its hosts in New York City, San Francisco and other cities, the company only did so after long, drawn-out battles with officials, sometimes in court. This month, Airbnb settled a lawsuit with San Francisco and agreed to register […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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