Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/224114
Title: THE LEGALIZATION OF AIRBNB IN SINGAPORE AND ITS IMPACT ON HOTEL AND TOURISM INDUSTRY
Authors: DEIVER THEOFILUS MULJADI
Keywords: Real Estate
RE
Alice Christudason
2016/2017 RE
Issue Date: 17-May-2017
Citation: DEIVER THEOFILUS MULJADI (2017-05-17). THE LEGALIZATION OF AIRBNB IN SINGAPORE AND ITS IMPACT ON HOTEL AND TOURISM INDUSTRY. ScholarBank@NUS Repository.
Abstract: The Airbnb home-sharing phenomenon has disrupted economies around the globe including Singapore’s economy. As a popular financial hub and tourist haven, Singapore welcomed more than 12.4 million short-term and long-term visitors in 2016 with the former usually staying at hotels during their stay in the little red dot. As Airbnb continues to gain popularity, it is seen as a more affordable accommodation alternative as compared to commercial hotel establishments. However, an amendment to the Planning Bill was passed in Parliament in February 2017 which effectively bans short term rentals in Singapore. As such, this research aims to analyze the socio-economic impacts of the possible legalization of Airbnb in Singapore. Various literature reviews, online resources, interviews and surveys were collected and analyzed to provide insight into the short term rentals market in Singapore. The results imply that although Airbnb is widely popular for people in Singapore to travel overseas, hosting is not a popular choice in Singapore. Between regulating the hosts or the property-use, Singapore government opted for the later one by exploring a new category for private residential properties. Singapore government should also do pilot programs on private residential properties to test out and allow short term rentals activities, to identify the possible problems which might arise, and to choose the most effective policies to overcome them. However, regardless of which policies the government opt for, the only way forward is to embrace, legalize, and regulate short term rentals in the long run as the home-sharing economy is here to stay.
URI: https://scholarbank.nus.edu.sg/handle/10635/224114
Appears in Collections:Bachelor's Theses

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