AirBnB Claim New Tourism Law Will Cost Balearics 550â‚Ź Million The Private Property Rental Portal Claim the New Tourism Regulations Will be a Disaster for the Balearic Economy AirBnB have announced that the Balearic economy could lose more than 550 million euros per year under the new tourist rental regulations.
They state families on the island stand to lose 100 million euros of that figure. This follows changes to the law that hold the websites responsible for allowing the advertising of private properties that do not hold the correct licences. The Island Consell have had little success in tackling the
issue by pursuing the property owners direct, but now it seems that the fear of huge fines up to 400,000â‚Ź has had an impact, with thousands of properties being withdrawn form sites including AirBnB in the past two weeks. The full story of the impact on Page 2. The report from AirBnB continued on page 7.