Caribbean Tourism Organization announces agreement with Airbnb

The Caribbean Tourism Organization (CTO), the region’s tourism development agency, have signed an agreement with Airbnb to develop a set of policy principles and recommendations on the sharing economy for Caribbean governments and other stakeholders.

Under the agreement, signed at the CTO’s headquarters by Secretary General and CEO Hugh Riley and Airbnb’s Shawn Sullivan, public policy director for Central America and the Caribbean, both organizations will share data and studies with policymakers about the positive impact of the sharing economy in the region, identify ways to make it more inclusive, and broaden the benefits of tourism to non-traditional actors.

The partnership agreement is also to provide the CTO with an economic analysis of Airbnb’s positive impact on local economies. Key stakeholders will be briefed on the value of peer-to-peer review mechanisms by reviewing Airbnb’s aggregate data; Caribbean government officials and other stakeholders will also learn about the long-term benefits of the sharing economy, and home sharing in particular.

“The CTO is establishing a basis for mutual cooperation with Airbnb. It is important for us to examine all aspects of this important segment of the sharing economy,” said Riley. “We believe that by clearly understanding Airbnb’s massive influence in capturing consumers’ interest in unique accommodations, we will be in a position to properly advise our members and to allow the Caribbean to achieve the goals of year-round profitability, visitor satisfaction and sustainable tourism development.”

“This is an exciting partnership for Airbnb,” commented Sullivan. “We look forward to working with the CTO to develop policy recommendations for regional governments and other stakeholders on the sharing economy. The Caribbean is an important and growing market for Airbnb and we expect continued growth here.”