Airbnb: ‘It’s a cash machine. It’s magical. You are paid to go on holiday.' | Owners Corporation Network

Airbnb: ‘It’s a cash machine. It’s magical. You are paid to go on holiday.'

Jean-Louis Missika, Paris’s deputy mayor, sees these companies as global operators that destabilise local areas. One day, when he was shopping at a market in St Germain, he noticed how many of the neighbourhood shops had been replaced by restaurants. A shopkeeper told him: “There are fewer locals, and more tourists.” Missika says: “A city centre needs a certain minimum of residents. It’s said that 25 per cent of flats on the Ile St Louis [in central Paris] are devoted to tourist rental.”
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