3rd Speaker

1. Ladies and gentlemen, esteemed guests, and respected judges, I am Shaquan Whyte,
the Third Opposition Spokesman, here to stay the thought that Jamaica is on the
brink of over-tourism. The good doctor gave us a measured diagnosis of where we
are concerning over-tourism. The consultant explored the issues and provided
greater context, particularly to the environmental issues. I, as your dietitian, will
provide greater context and a solution for Jamaica’s house price problem.
2. Regarding any possible rising housing prices on the coast, it's unfair to solely blame
tourists. Various factors contribute to this issue, including infrastructure
improvements, lower interest rates, economic growth, and high demand in coastal
areas creating a housing bubble. However, the expansion of short-term rental
facilities, such as Airbnb, is the main factor that has a direct tie to tourism and house
prices.
3. The Minister of Tourism highlighted in a Caribbean National Weekly article on
October 19, 2023, the rapid increase in short-stay accommodations, with listings
rising from 7,500 to 8,000 in 2022 to "ten to eleven thousand plus" more recently.
4. Madam, Speaker, A 2021 study titled, the impact of Airbnb on residential property
values and rents: Evidence from Portugal, found that a one per cent increase in
municipal Airbnb share leads to a 3.7% rise in house prices, suggesting that a 10%
increase could result in a 37% housing price increase. As more properties are
converted into short-term rentals, there are fewer options for locals to find affordable
housing, leading to increased competition and higher prices.
5. To address this, Jamaica should implement regulations similar to those in New York
City, as reported by The Guardian on September 6, 2023, to manage short-term
rentals effectively. By Introducing a licensing and registration system for Airbnb hosts,
we can ensure that properties meet certain standards and comply with local
regulations. This can include safety requirements, tax obligations, and zoning
restrictions to prevent overcrowding and maintain community balance.
6. In conclusion, as your dietitian, we are free to consume more tourist arrivals but let
us implement some regulation exercises to take care of environmental issues, urban
planning efficiencies, and rising house prices so that Jamaica can be fit and healthy as
we grow that tourism muscle sustainably. The Opposition rests.