The Perceived Impacts of Short-Term Rental Platforms: Comparing the United States and United Kingdom

Abstract

Short-term rental platforms such as Airbnb have enjoyed considerable success in recent years. However, critics accuse the platforms of having negative impacts, leading to gentrification, disruption, and increased rent and house prices. While research has investigated actual impacts of short-term rental platforms, we lack systematic, generalizable, and comparative evidence on the perceived impacts of such platforms, especially from a social exchange perspective. To address this shortcoming, we conducted a representative survey in the US and UK with a holistic set of perceived impacts. Using social exchange theory (SET) and applying a range of multi-variate statistical analyses, especially exploratory factor analysis and cluster analysis, we systematically compare these two contexts to identify clusters that perceived the social exchanges derived from STRs as distinct. The findings indicate that US residents assess short-term rental platforms more positively than UK residents, especially for recreational, amenities-oriented and economic impacts. Among respondents who have used short-term rental platforms as guests, the perceptions are more alike between the two countries, suggesting a homogenization effect. We discuss the theoretical and practical implications of the results.

The Perceived Impacts of Short-Term Rental Platforms: Comparing the United States and United Kingdom