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02 Jul 2019, Gergana Bencheva, EMIS Editor

Airbnb contributes MYR 3bn to Malaysia’s economy in 2018

Online hospitality booking platform Airbnb said it had contributed MYR 3 billion to the Malaysian economy in 2018, Free Malaysia Today News reported. The group explained that it had come up with the figure thanks to an internal survey among 2,000 hosts and guests.

Currently, Airbnb is in discussion with the country’s tourism ministry and other agencies and has given green light to the local government to regulate its business. Earlier in 2019, the platform also showed readiness to implement Malaysia’s Voluntary Collection Agreements (VCAs). Thus, it will be able to collect and remit tourist tax on behalf of its hosts and guests in the country.

Mike Orgill, Airbnb's general manager for Southeast Asia, Hong Kong and Taiwan, said over 3.25 million guests signed up with the service between July 2018 and July 2019. Currently, the platform has over 53,000 listings in Malaysia, Free Malaysia Today News added.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Free Malaysia Today News