As tourists move in, Italians are squeezed out on holiday island of Capri [Globe and Mail, The (Toronto, Canada)]
Airbnb, Inc. - Class A (ABNB)
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Source: Globe and Mail, The
As many as 16,000 tourists a day pour onto the rocky isle in peak season, outnumbering the 12,900 residents. Most are day trippers, but increasing numbers stay the night as ever more homes are given over to holiday lets, bringing its own problems. “Capri is becoming a dormitory for tourists,” said Teodorico Boniello, head of the local consumers' association. “There are more people coming than we can cope with and families can't set down roots because they can't afford to stay.” Capri is a microcosm of many European holiday hotspots. Locals depend on visitors for their livelihoods, but the advent of mass tourism risks turning their picture-perfect beauty spots into blobs of shuffling humanity. Some Italian towns and islands are starting to push back, albeit gently. Venice last week became the first city in the world to introduce an entrance fee for visitors in peak periods , Florence has banned new holiday lets in the city centre and the Cinque Terre park on the Italian Rivier
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Earnings
- 5/8/24 - Beat
ABNB
Sec Filings
- 5/14/24 - Form 144
- 5/9/24 - Form 4
- 5/8/24 - Form 10-Q
- ABNB's page on the SEC website