It's both actually and they are compounding. For the latter one there exists tourist tax that could curb a bit the overflood but AFAIR it was harder to enforce

It's both actually and they are compounding. For the latter one there exists tourist tax that could curb a bit the overflood but AFAIR it was harder to enforce / collect with Airbnb and short term rentals (as opposed to typical licensed hotels and hostels) that only exasperated the situation by pushing more people to try to cash on the airbnb