Tourism Slump in Dublin Lays Bare Airbnb’s Damage to Rental Markets

Tourism Slump in Dublin Lays Bare Airbnb’s Damage to Rental Markets

After the pandemic hit, the number of longer-term listings jumped in the Irish capital. That brought some relief to a crunched market for renters, though it may not last. The "Clinical Nutrition Market – Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering. from 2020 to 2025. The global medical radiation detection, monitoring, and safety market is projected to reach USD 1,207 million by 2025 from USD 949 million in 2020, at a CAGR of 4. Right now, the aviation industry is grappling with the negative effects of the coronavirus pandemic, as the world’s airlines announce budget cuts, furloughs, and layoffs. According to the International Air Transport Association, employment supported directly and indirectly by the air transport sector is expected to

After the pandemic hit, the number of longer-term listings jumped in the Irish capital. That brought some relief to a crunched market for renters, though it may not last.

The modern one-bedroom Dublin apartment featured an open-plan living space, a sun-soaked balcony, solar panels, ample storage space and parking for two cars. The location was ideal, as was the price: about $1,800 a month — $300 less than the previous tenant had paid.

In a city where lines to view rental properties have regularly trailed around the block, the new tenants could hardly believe their luck.

“We were not going to get this place,” Aoife Brannigan, 25, said of the months of fruitless searching that she and her partner, Shaun Gribben, 25, had undertaken before landing the apartment. “I couldn’t see it happening had this not happened. We 100 percent benefited from this.”

The “this” she was referring to was the coronavirus, which has sent a chill through Ireland’s once-frenzied housing market, particularly Airbnb listings, which have been hit by a collapse in tourism. That drop, along with an exodus of people from overseas leaving Dublin because of the pandemic, has created a surge in available rental properties in the Irish capital — a shift that underscores how Airbnb’s presence continues to influence housing prices in popular cities.

For Dublin, the change has relieved a crunch that in recent years sent rents skyrocketing and left many people struggling to afford a place to live. The situation was so fraught that in February, voters in search of affordable housing and greater tenant rights set off shock waves in national elections by ousting the traditional governing parties.

When Ms. Brannigan and Mr. Gribben began their search in earnest at the start of the year, he said, “I remember every day I was given around 60 properties — and once this kicked in, it literally doubled.”

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For years, homes rented out on Airbnb for short-term stays drained the supply of the Dublin area’s rental market, rising from about 1,700 full-home listings in 2016 to over 4,500 early this year just before the coronavirus crisis, according to Inside Airbnb, a site that tracks listings in cities around the globe.

But during the pandemic that trend has reversed, with such listings declining to about 3,900 during August, a deceptively small shift that has had an outsize effect. From May to July, long-term rental listings in the city were nearly 50 percent above the same period last year — an increase of over 1,000 rental homes — despite a 1.5 percent fall in the rest of the country, according to a report by Ronan Lyons, an assistant professor of economics at Trinity College Dublin, for the Irish real estate website Daft.ie.

Because they operate on short-term leases, Airbnb listings can flood the rental market in a way that longer-term rentals cannot.

“The Dublin market in normal conditions could easily take 3,000 properties without necessarily batting an eyelid,” Mr. Lyons said in an interview. Of the recent increase in listings, he said: “That’s quite a lot compared to what it has seen coming through. That’s about one and a half months’ additional supply that came on, and at a time when people aren’t moving to the city.”

The Irish government tried to cool the Airbnb market last year, introducing regulations to move short-term rentals in areas with rapidly rising rents back into the long-term market. But without an effective method of enforcement, the effort was largely fruitless.

Similar approaches have been taken — with mixed success — in Amsterdam and Paris, which have limited the number of days people can rent their apartments; in Barcelona, which in 2014 fined Airbnb over breaches of property rental rules; and in London, where investigations by The Times of London and Wired magazine found that thousands of the site’s listings appeared to violate the city’s limit on short-term rentals.

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“Airbnb is knowingly allowing people to advertise properties that are not legally compliant on the platform,” said Eoin O Broin, the housing spokesman for Sinn Fein, a left-wing opposition party that made large gains in the February election on a platform that included proposals to freeze rents and build 100,000 homes. “And when those properties are let as they were before Covid-19 restrictions, and will be afterwards, Airbnb is profiting from lawbreaking.”

An Airbnb spokesman disputed the Inside Airbnb data, saying that most hosts around the world planned to rent their units at least at pre-pandemic levels once the coronavirus subsides, and added that the share of bookings in big European cities had recently rebounded.

The company said in a statement last week: “There are as many entire home listings on Airbnb in Ireland today as there was before the pandemic. Travel on Airbnb generated an estimated €800 million in economic activity for Ireland in 2019 alone and hosts are very much focused on how they can help their local communities get back on their feet and drive the safe recovery of tourism.”

Homeownership was the subject of intense national focus during Ireland’s booming Celtic Tiger years of the 1990s and early 2000s, but the 2008 financial crash gutted the country’s economy and brought a previously hot housing construction industry to a halt. Ireland’s economy gradually recovered, but housing prices catapulted, putting homeownership beyond the reach of most people and corralling them into an already squeezed rental market.

Then came the pandemic, which brought a nationwide lockdown in the spring, a 6.1 percent drop in economic output in the second quarter and an unemployment rate that by August was measured as high as 15.4 percent.

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And while some workers have moved out of urban areas while working-from-home practices are in place and some from overseas returned to their native countries during the pandemic, experts attribute much of Dublin’s abrupt rise in listings for long-term rentals to the drop in Airbnb listings.

The evidence, they say, is that availability has spiked in parts of the city where short-term listings were concentrated — something that has not happened evenly across the city or in the rest of the country.

The shift has been most pronounced in central Dublin, where owners of investment properties have been abandoning the short-term market. Jim Cryan, a retired businessman, moved his Dublin Airbnb listing onto the long-term rental market in late March. Within two and a half weeks, the four-bedroom townhouse was rented.

Mr. Cryan accepted a lease with a monthly fee of about $3,900, half of what he could have expected when the Airbnb market was sizzling. Yet he doubts that he will return to the short-term market.

“You apply common sense to it,” he said. “It’s like if you invest in a share and it collapses, you’re very loath to go back in again and get burned twice.”

This is not to say that the return of former Airbnb listings to the rental market will solve Dublin’s housing crunch.

“The underlying shortage of rental accommodation is probably at least 50,000 and closer to 70,000 or 80,000 based on trends over the last couple of decades,” said Mr. Lyons, the economics professor.

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“My concern,” he added, “would be that a politician could look at this and go, ‘Oh, problem solved: Airbnb has collapsed, the European market has collapsed, we’ve got all these rental properties over and job done.’”

For one thing, while rents in Dublin have fallen since the coronavirus struck, the drop-off over all was marginal, and recent months have even seen a slight uptick.

“The underlying shortage of rental accommodation in Dublin is very acute,” Mr. Lyons wrote in the report for Daft.ie. And many landlords are wary of locking in losses for the long term.

“If you lower your rent now, the rent you set in one, three and 10 years will reflect the cut you make today,” Mr. Lyons wrote. “So, however open landlords might be to haggling ‘at the door’ and offering a month or two free rent at the start to sweeten the deal, they may be very reluctant to flag in an ad that they are indeed cutting their rent.”

Source: www.nytimes.com

Author: Anna Joyce


Global Clinical Nutrition Market Outlook and Forecast Report 2020-2025 Featuring Market Leaders - Abbott Laboratories, Danone, Nestle Health Science, Baxter Int'l, Braun

Global Clinical Nutrition Market Outlook and Forecast Report 2020-2025 Featuring Market Leaders – Abbott Laboratories, Danone, Nestle Health Science, Baxter Int’l, Braun

The global clinical nutrition market reached $51 billion in 2019 is expected to grow at a CAGR of 8% during the forecast period.

The following factors are likely to contribute to the growth of the clinical nutrition market during the forecast period:

The outbreak of novel coronavirus has been a global catastrophe. The symptoms of COVID-19 span a spectrum, ranging from mild, self-limiting flu to pneumonia, acute respiratory distress syndrome, and finally, death. A higher percentage of people have died in Europe than in Asia. A recent meta-analysis from China involving 46,248 patients showed that the most prevalent comorbidities in people infected by COVID-19 were hypertension, followed by diabetes, cardiovascular, and respiratory diseases.

The study considers the present scenario of the clinical nutrition market and its market dynamics for the period 20192025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Clinical Nutrition Market Segmentation

The global nutrition market research report includes a detailed segmentation by route of administration, age group, application, end-users, distribution, and geography. The oral and enteral segment dominates a majority share of the market. The growing health awareness among consumers remains one of the key factors driving the growth of the market. This trend is expected to continue during the forecast period. Although clinical nutritional supplements are generally prescribed to individuals that are at high risk of malnutrition, oral supplements are witnessing widespread inclusions in dieticians’ recommendations.

The oral and enteral segment dominates a majority share of the market. The growing health awareness among consumers remains one of the key factors driving the growth of the market. This trend is expected to continue during the forecast period.

Although clinical nutritional supplements are generally prescribed to individuals that are at high risk of malnutrition, oral supplements are witnessing widespread inclusions in dieticians’ recommendations.

Hospitals constitute the largest end-user for clinical nutrition products globally. The rising incidence of chronic diseases, along with the growing number of preterm births and surgeries, has led to the growth of demand for clinical nutrition in hospitals.

Long-term care facilities (LTC) include includes ambulatory care facilities. The prevalence of protein-energy malnutrition in nursing homes residents range from 25-85%. Malnourishment in the elderly population can lead to poor clinical outcomes and increase the risk of mortality. Thus, clinical nutrition is generally recommended for patients in LTC facilities, which is driving growth.

Supermarkets and hypermarkets have been dominating the distribution landscape, and the channel is expected to continue its momentum during the forecast period. Drug stores and pharmacies are the most preferred outlets after supermarkets & hypermarkets. Countries such as India, China, and Japan are oriented toward supermarkets and traditional retail outlets. The other significant countries, such as Australia, depend keenly on drug stores and pharmacies.

Key Questions Answered

1. What is the market size and compound annual growth rate of the clinical nutrition market?
2. What are the emerging clinical nutrition market trends that is going to drive the industry during the forecast period?
3. What are the factors influencing the growth of the hospitals segment during the forecast period?
4. What is the growth of the adult and pediatric segment market shares by 2025?
5. Who are the major key players in the clinical nutrition market, and what are their market shares?
6. How is the growing population in the Asia Pacific region impacting the growth of the clinical nutrition market?
7. What is the impact of the COVID-19 pandemic on the global medical nutrition market size?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segmentation

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Impact of Covid-19 On Global Clinical Nutrition Market

8 Market Opportunities & Trends
8.1 Increasing Use of Whey Protein in Clinical Nutrition
8.2 Growing Popularity of Home-Based Healthcare
8.3 Growing Demand for Parenteral Nutrition
8.4 Increased Demand in Developing Countries

9 Market Growth Enablers
9.1 High Incidence of Malnutrition Among Hospitalized Patients
9.2 Higher Nutritional Requirement Among Geriatric Population
9.3 Rising Incidence of Chronic and Metabolic Disorders
9.4 Increasing Preference of Enteral Over Parenteral
9.5 High Demand for Clinical Nutrition Among Cancer Patients

10 Market Restraints
10.1 Complications Related to Enteral Feeding
10.2 Stringent Regulations
10.3 Irregular Reimbursement Coverage for Clinical Nutrition

11 Market Landscape
11.1 Market Overview
11.2 Five Forces Analysis

12 Clinical Nutrition Market by Route of Administration
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Oral or Enteral
12.4 Parenteral

13 Clinical Nutrition Market by AGE Group
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Pediatric
13.4 ADULT

14 Clinical Nutrition Market by Application
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Malnutrition
14.4 Metabolic Disorders
14.5 Gastrointestinal Disorders
14.6 Cancer
14.7 Others

15 Clinical Nutrition Market by End-Users
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Hospitals
15.4 LTC
15.5 Homecare
15.6 Individuals

16 Clinical Nutrition Market by Distribution Channels
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Institutional Sales
16.4 Supermarkets & Hypermarkets
16.5 Pharmacy And Drugstore
16.6 Specialty Stores
16.7 Online Channels
16.8 Others

17 Clinical Nutrition Market by Geography
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview

Company Profiles

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Laura Wood, Senior Manager
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Source: news.yahoo.com


The medical radiation detection, monitoring and safety market is projected to grow at CAGR of 4.9%

The medical radiation detection, monitoring and safety market is projected to grow at CAGR of 4.9%

New York, Sept. 21, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Medical Radiation Detection, Monitoring & Safety Market by Detector, Product, Safety, End User – Global Forecast to 2025” – https://www.reportlinker.com/p04814916/?utm_source=GNW
The major factors driving the growth of this market include the increasing use of nuclear medicine and radiation therapy for diagnosis and treatment, growing number of diagnostic imaging centers, rising prevalence of cancer, increasing safety awareness among people working in radiation-prone environments, and the growing number of people covered by insurance.

Gas- Filled Detectors segment to witness the highest growth during the forecast period.
Based on the detector type, the medical radiation detection and monitoring market is segmented into gas-filled detectors, solid-state detectors, and scintillators.The gas-filled detectors is projected to grow at the highest CAGR during the forecast period.

The favorable performance-to-cost ratio of gas-filled detectors coupled with their wide application in the medical imaging field is the major factor supporting the growth of this segment.

Personal Dosimeter to register the highest growth in the medical radiation detection, monitoring and safety market during the forecast period.
Based on product, the medical radiation detection and monitoring market is segmented into personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, radioactive material monitors, and other medical radiation detection and monitoring products.. The personal dosimeter segment is projected to witness the highest growth in the medical radiation detection, monitoring and safety market during the forecast period. The growing number of diagnostic and interventional radiological procedures performed are the major factors supporting the growth of this segment.

Asia Pacific is estimated to register the highest CAGR during the forecast period.
In this report, the medical radiation detection, monitoring and safety market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW).The market in Asia Pacific is projected to register the highest growth rate during the forecast period.

The growth in this market is primarily driven by the growing number of hospitals, rising incidence of cancer, increasing installations of radiological imaging systems, and rising adoption of radiation therapy for the treatment of diseases.

Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (32%) , Tier 2 (44%), and Tier 3 (24%)
• By Designation: C-level (30%), Director-level (34%), and Others (36%)
• By Region: North America (50%), Europe (32%), AsiaPacific (10%), and Rest of the World(8%)

List of Companies Profiled in the Report
• Fortive Corporation (US)
• Mirion Technologies, Inc. (US)
• IBA Worldwide (Belgium)
• Thermo Fisher Scientific, Inc. (US)
• Sun Nuclear Corporation (US)
• Ludlum Measurements, Inc. (US)
• Polimaster, Inc. (Republic of Belarus)
• Bertin Instruments (France)
• Radiation Detection Company Inc. (US)
• Biodex Medical Systems, Inc. (US)
• Arrow-Tech, Inc. (US)
• AmRay Group (Ireland)
• Infab Corporation (US)
• PTW Freiburg GmbH (Germany)
• Centronic Ltd. (UK)
• SE International, Inc. (US)
• Atomtex (Republic of Belarus)
• Nucleonix Systems Pvt. Ltd. (India)
• Alpha Spectra Inc. (US)
• LND, Inc. (US)
• Bar-Ray (US)
• Trivitron Healthcare (India)
• Scionix (Netherlands)
• RadComm Systems (Canada)
• Micron Semiconductor Ltd. (UK)

Research Coverage
This report studies the medical radiation detection, monitoring and safety market based on detector type,medical radiation detection and monitoring products, medical radiation safety products surface, end user, and region.The report also analyzes factors (such as drivers, opportunities, and challenges) affecting the market growth.

It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total medical radiation detection, monitoring and safety market.

The report forecasts the revenue of the market segments with respect to four major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on medical radiation detection, monitoring and safety products offered by the top 25 players in the medical radiation detection, monitoring and safety market. The report analyzes the medical radiation detection, monitoring and safety market by product, shape, surface, procedure, end user, and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various medical radiation detection, monitoring and safety products across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical radiation detection, monitoring and safety market
• Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the medical radiation detection, monitoring and safety market

Read the full report: https://www.reportlinker.com/p04814916/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

Source: www.globenewswire.com

Author: ReportLinker


IFC Market's Post-COVID Future Depends on Today's R&D Efforts

IFC Market’s Post-COVID Future Depends on Today’s R&D Efforts

Photo: GateHouse SatCom

Right now, the aviation industry is grappling with the negative effects of the coronavirus pandemic, as the world’s airlines announce budget cuts, furloughs, and layoffs. According to the International Air Transport Association, employment supported directly and indirectly by the air transport sector is expected to plummet by 45% in 2020 to 38.4 million jobs, compared to the estimated 70.4 million jobs in 2019. 

Because of the coronavirus, development and production of new airplanes have been brought to a halt. The world’s biggest airplane manufacturer, Airbus, has experienced a slump in demand leading to an estimated drop in revenue of 40%. The company has announced plans to cut 15,000 jobs.  

As a subcontractor, we at GateHouse SatCom are following the situation closely. If the coronavirus pandemic carries on for an extended period, we expect that the effects will be significant for years ahead, even for our work developing communication technology that is installed on aircrafts.

The coronavirus pandemic is a cruel setback for our industry which was thriving before the virus began to spread. In the last couple of years, aviation has taken quantum leaps forward in terms of In-Flight Connectivity (IFC) for passengers, and was beginning to see the potential of connecting the flight cockpits.

As the old saying goes, necessity is the mother of invention. In my point of view, this is the best way to describe how companies servicing the satcom industry can recover from this crisis.

At GateHouse SatCom, this time period has brought about deeper focus on product development and investments in new technologies. This has been possible coming from a healthy financial situation and the possibility to apply for funded projects. 

As a direct reaction to the global pandemic, European Space Agency (ESA) announced on April 1 that it was seeking proposals for a new project called “Space in Response to COVID-19 Outbreak,” in cooperation with the Italian government. And this past spring, NASA’s Earth sciences division also solicited proposals for rapid response and novel research related to the pandemic. In addition, many national funding opportunities have also been available to bring financial aid to companies afflicted by the pandemic, as well as to enable development that might contribute to understanding or handling the crisis.

R&D projects like Inmarsat and ESA’s joint project Iris will also allow satcom and cockpit application companies to develop new technologies and potential new revenue streams both during and on the other side of the crisis. Even though it will require upfront investment, these projects can potentially make a satcom business more competitive on the other side of the crisis and help make up for lost revenue.

On the back of the coronavirus pandemic, aero technology providers hope to see installations on new aircrafts escalate. Before the pandemic, several airlines were already planning to retire particular aircraft models because of their age or inefficiency. COVID has accelerated these plans, like Virgin Atlantic Airways’ retirement of its Airbus A340-600 aircraft and KLM’s Boeing 747-400. The retirement of old airplanes will hopefully make way for investments in new – and with them, new technological solutions.

As I mentioned before, connectivity has over the past couple of years entered aircraft cabins and may reach the cockpits in the near future. The traditional flight bag, for example, has already been replaced with tablets, and it is now time to take the next step allowing data sharing in the airspace, leading to more sustainable business operations for carriers.

The coronavirus crisis has left numerous industries and companies with the option to either scale down or to find new ways to generate business through funding, new projects, innovation, or development. Although the current crisis is unquestionably challenging, many have already found ways to turn these challenges into new business opportunities – only time will tell what path the satcom and aviation industry will take.

Thomas S. Jensen is the vice president of GateHouse SatCom, a wholly owned subsidiary of GateHouse Group that also holds the subsidiaries GateHouse Maritime and GateHouse Igniter. GateHouse SatCom provides the satellite communications industry with a range of software products for commercial, government, and military use. GateHouse SatCom also offers consultancy services for software, hardware, and system integration, as well as for the preparation and evaluation of international tenders.

Source: www.satellitetoday.com


Tourism Slump in Dublin Lays Bare Airbnb’s Damage to Rental Markets


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