Isn’t that simply market laws at work? There is a bottomless supply of drivers, because anyone can be a driver, so the competition leads drivers earning towards zero. There is a limited supply of rentable property in tourist areas, so the price of tourist rents stays afloat.
Which also shows that the so-called “invisible hand f the market” is not always that efficient at regulating things. Case in point: Europe still regulates taxi drivers in many places and the result is not too bad. Not perfect, but one finds taxis and the drivers make a decent living.
