A majority of homestay owners surveyed said the money earned from hosting helps to cover the rising cost of food and other necessities. — NATTANAN KANCHANAPRAT/Pixabay
Homestay operators in Malaysia are using income from hosting to help with the rising cost of living, according to a home rental platform.
A majority of homestay owners surveyed by Airbnb said the money earned from hosting helps to cover the rising cost of food and other necessities.
"As the pandemic saw businesses and livelihoods impacted and costs of living rise across Malaysia, income earned through hosting became an essential part of navigating these challenges.
"Against the backdrop of higher prices for everyday goods, almost 60% of hosts surveyed in Malaysia said they use the income earned through hosting on Airbnb to buy food and other necessities that have become more expensive," Airbnb said in a statement.
According to the Department of Statistics, Malaysia’s consumer price index (CPI) increased by 2.3% in April this year from a year earlier due to higher food prices.
Airbnb said homestay owners are also using their hosting income to pay for their housing needs.
"Hosts are also using the income earned on Airbnb to help pay for the most basic of needs – housing. Almost half of hosts surveyed said that hosting income has helped them stay in their home.
"Of that group surveyed, almost 60% of hosts said that hosting helped them avoid foreclosure or eviction," the company said.
It was reported earlier this year that Penang is looking to impose a ban on short-term rentals of homes on both landed and high-rise properties, though no date has been decided.
Hoteliers, however, said that it is better for the authorities to regulate homestays rather than impose an outright ban which could affect the tourism industry negatively.
Malaysia Budget and Business Hotel Association (MyBHA) deputy president Dr Sri Ganesh Michiel said homestay operators should be subjected to similar regulations as hotels.
"We are not saying they must be banned, but they should be strictly regulated and subjected to the same taxes and fees as hotels.
“Given that both are offering the same services, short-term rentals must also have the same licences as hotels before operating,” he previously told The Star.
Airbnb's latest findings is based on a survey of 87,070 homestay listings booked between June 1 and Dec 31 last year.
