Illustration: Allie Carl/Axios
Mexico City is betting big on digital nomads despite concerns that they're driving up rental costs and pricing locals out.
State of play: Data from Mexico's National Institute of Migration shows a record number of Americans have migrated to Mexico since the pandemic began. Many come to work remotely because the cost of living is so much lower than in the U.S.
Driving the news: Airbnb and the Mexico City government signed an agreement last month that facilitates work-from-home tourism by promoting listings on the platform and incentivizing Airbnb hosts to offer discounted rates for longer stays.
But tenants' rights organizations and renters say the agreement will further raise rents and segregate the city by forcing out renters who can't afford higher costs, especially the elderly, Indigenous people and young adults.
Zoom in: After nine years of renting an apartment in the touristy Condesa neighborhood, Paty Maciel was told she had 10 days to move out because her landlord wasn't renewing anybody's lease in the building, she told Axios Latino.
What they're saying: Mexico City Mayor Claudia Sheinbaum said last month that inflation has also contributed to spiking rents and that there's no evidence Airbnb rentals are the sole cause. She added that many of the neighborhoods seeing increased rents have long been in high demand.
The big picture: Cities worldwide have grappled with how to reconcile the allure of tourism via Airbnb and similar rental platforms and their disruption on neighborhoods in the past few years.
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