The Caribbean Tourism Organization and Airbnb plan to develop policies and recommendations on the sharing economy in the Caribbean.

Under an agreement signed Feb. 7 at CTO's headquarters in Barbados by CTO secretary general Hugh Riley and Airbnb's Caribbean public policy director Shawn Sullivan, both organizations will share data and studies about the impact of the sharing economy, identify ways to make it more inclusive and broaden the tourism benefits to those running nontraditional accommodations.

CTO will get access to Airbnb's data as well as economic analyses of Airbnb's impact on local economies.

"It is important for us to examine all aspects of this important segment of the sharing economy. By clearly understanding Airbnb's massive influence in capturing consumers' interest in unique accommodations, we will be able to advise our members and to allow the Caribbean to achieve the goals of year-round profitability, visitor satisfaction and sustainable tourism development," Riley said.

Currently there are 41,000 listings across the Caribbean; a typical host earns approximately $3,900 a year.

"The Caribbean is an important and growing market for Airbnb and we expect continued growth there," Sullivan said.

Within the region, Jamaica and Aruba already have signed similar agreements with Airbnb.

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