Short-Term Rentals Bring Substantial Economic Benefits to Communities
March 2014 – The Short Term Rental Advocacy Center commissioned TXP to assess the economic impacts of short-term rentals attributable to STRAC members’ customers in a number of communities including California’s Coachella Valley; Portland, Oregon; Chicago, Illinois; and Myrtle Beach, South Carolina. The reports capture visitors spending on short-term rentals in those markets, as well as related spending and the broader implications on those economies, but not necessarily all short-term rentals. TXP found that short-term rentals are a valuable asset in a community’s tourism portfolio, providing diversity in accommodations and ultimately creating thousands of jobs and millions of dollars of tax revenue in a community where tourism is an increasingly important driver of the local economy.
Click HERE to access a related story in The Desert Sun.