Airbnb and The World Bank group has signed a Memorandum of Understanding (MoU), validating their combined efforts to boost the tourism industries of the developing economies.
With an aim to boost rural tourism, community-driven hospitality company Airbnb announced their partnership with World Bank Group.
With the agreement done, Airbnb and the World Bank Group will now examine ways in which emerging destinations can utilise the new technology and platforms to create scope for economic development, which were previously not practised.
The two organisations will also share information on the current scale of alternative accommodation options and home sharing across several countries, beginning with pilot projects in Sri Lanka and India.
Clark Stevens, Director, Government Affairs and Strategic Partnerships at Airbnb said that they are excited to collaborate with the World Bank Group to study the development impacts of home-sharing and pilot projects in emerging tourist destinations.
Travel and tourism industry is one of the largest service industries in the world accounting more than 10 percent of the global GDP. The share of total global arrivals is expected to reach 57 percent by 2030 from the emerging markets.
