The Caribbean Tourism Organization has signed what it’s calling a landmark deal with home sharing company Airbnb.

Under the agreement, both organizations will share data and studies with policymakers about the impact of the sharing economy in the region and “broaden the benefits of tourism to non-traditional actors.”

Airbnb will also provide an economic analysis of its impact on local economies.

“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 Hugh Riley, secretary general of the CTO. “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.”

Airbnb currently has 41,000 listings across the Caribbean; a typical host in the Caribbean earns $3,900 per year.

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

— Caribbean Journal Staff