KUALA LUMPUR, Airbnb hopes that the government will support and endorse the national short-term rental accommodation (STRA) guidelines and recognise the potential of the sharing economy in the hospitality sector in Budget 2025. It also wishes for the promotion of a fair and practical review of the Tourism Industry Act 1992, to ensure a practical regulatory framework that supports sustainable tourism development without stifling the sector's potential. 'To ensure all accommodation providers benefit equally, Airbnb calls for key incentives currently available only to traditional tourism players, such as grants and travel incentives, to be extended to STRA hosts (individuals and small and medium enterprises) to foster economic empowerment and promote a more inclusive recovery," Airbnb said in a statement. Airbnb public policy director for Asia Pacific, Mich Goh said the guidelines would be the first of its kind in Southeast Asia and showcase Malaysia's dynamism to embrace innovation to spur the tourism indust ry. He also said Airbnb encourages the government to explore initiatives that enable Malaysians to offset the cost of purchasing their first homes through income earned via STRA activities. 'Special financing schemes in collaboration with financial institutions could help young homeowners leverage their hosting income to alleviate financial burdens. 'Airbnb remains committed as a partner to the government to support the growth of the travel and tourism industry, and to creating solutions that will benefit all tourism players including our community of hosts,' said Goh. He hopes that Airbnb and its community will be able to continue contributing to the collective efforts to advance Malaysia's tourism industry towards a more sustainable future. Source: BERNAMA News Agency