United Nations Human Settlements Programme

Across tourism dependent regions, the housing crisis has become a structural threat to social stability, economic resilience, and local autonomy. In destinations where short term rentals, seasonal demand, and real estate speculation dominate housing markets, residents face rising rents, shrinking long term supply, and displacement from their own communities. Local wages, often tied to low paid service work, struggle to keep pace with property prices driven by global capital, second home ownership, and platform based accommodation models. As housing is increasingly treated as a financial asset rather than a social good, essential workers are pushed farther from employment centers, straining infrastructure and hollowing out local economies. Governments face a complex trade off between protecting housing affordability and sustaining tourism revenues that underpin public finances.