Last week, Harry Theoharis, candidate for Secretary-General of UN Tourism, met with ministers of finance and tourism at the prestigious economic and tourism forums in Davos and Madrid to discuss the increasing impact of short-term rental platforms on residential housing markets.
At FITUR 2025 in Madrid, Theoharis underscored that while tourism itself is not the sole driver behind the rising housing costs in Spain and other popular tourist destinations, the UN Tourism should play an active role in finding solutions.
“Tourism is not directly responsible for increasing housing costs in some of the most popular tourist destinations in the world, but it does have a responsibility to contribute to the solution,” said Theoharis in his address at FITUR.
A former software engineer with a career spanning both the private sector and public service, Theoharis brings a unique perspective to the challenge. As Greece’s former Secretary-General for Public Revenues and Minister of Tourism, he is well-versed in both the transformative power of technology and the regulatory nuances that shape tourism and housing policy.
“As a software engineer, I know how technology can be transformative, but also disruptive. And as a policymaker, I understand when and how the public sector can intervene,” Theoharis explained.
Theoharis laid out his vision for reforming UN Tourism, highlighting the need for the organization to adapt quickly to the fast-evolving landscape of technological innovation. According to Theoharis, UN Tourism should help member states address emerging challenges by providing practical, context-specific support and policy recommendations.
“UN Tourism must be more proactive in foreseeing challenges brought about by technological disruptions and supporting its member states with targeted initiatives, investments, and policies,” Theoharis continued. “There is no one-size-fits-all solution. The organization must unite countries to share best practices and develop adaptable models that can be rolled out across different tourism contexts.”
During his addresses at both the Davos Lounge and FITUR 2025, Theoharis emphasized that while tourism and housing markets were once seen as separate sectors, the rise of short-term rental platforms has blurred the lines, creating new challenges. As Theoharis explained:
“Until recently, cities and countries managed tourism accommodation without considering the impact on the local housing market. However, technological platforms facilitating peer-to-peer rentals have bridged the gap between housing and tourism, making one directly affect the other.”
While he acknowledges that there is no universal solution, Theoharis believes policymakers can leverage a range of tools, including fiscal incentives, tax measures, licenses, marketing strategies, and even educational campaigns to address the issue.
“The key is working closely with each destination to understand its unique challenges and explore tailored solutions,” he said.
At the 50th Anniversary event of UN Tourism in Madrid, Theoharis shared his reform proposals with many key stakeholders, reinforcing his commitment to driving meaningful change within the organization and the global tourism sector.
