Airbnb to Close Business in China

By Ned Kelly, May 24, 2022

0 0

Airbnb is closing its domestic business in China, with all 150,000 Chinese mainland listings – homes and experiences – to be taken down by this summer, reports CNBC.

Airbnb launched its Chinese mainland business in 2016, and renamed its Chinese operation Aibiying 爱彼迎 – meaning to 'welcome each other with love.'

However, the platform faced mounting competition from domestic players, with the COVID-19 pandemic only adding to the company's woes; stays in China accounted for just 1% of Airbnb's revenue in recent years.

Airbnb will still maintain an office in Beijing, according to CNBC sources, with the company refocusing on providing listings for Chinese travelers going abroad to other destinations.

Before the pandemic, Chinese travelers heading abroad had tripled in less than a decade, reaching 155 million journeys in 2019, according to the United Nations World Tourism Organization.

With China's 'zero-COVID' policy still very much in place, however, quite when Chinese nationals will be able to travel abroad as simply as before remains to be seen.

[Cover image via Wiki]

more news

Tech Students – Sign Up for the BYOS Innovators Tournament 2022

Create innovative, feasible and impactful product ideas that will aid our society during COVID lockdown.

Beijing Expands Power Over Tech Giants with New Crackdown

Tencent and Alibaba are among the companies that were targeted.

The Tricky Business of Dating a Friend's Ex in China

DNC discusses tricky situations people find themselves in when they blur friendship lines with matters of the heart.

Another Western App Bites the Dust in China?

Signal, an encrypted messaging app, is currently down in China and only available via a virtual private network (VPN).

What is 'China Risk' and Why Global Companies Can't Ignore It

Political Economist Dr. Shirley Yu shares insight into her career in China policy and explains 'China risk.'

Here's How German Companies are Faring in China

Maximilian Butek share with That's common barriers for German companies entering the Chinese market.

What to Know about China's Major Stock Exchanges

a brief background and explanation on what gets traded in each exchange, and advice on how to access them.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at ThatsTianjin for events, guides, giveaways and much more!

7 Days in Tianjin With

Weekly updates to your email inbox every Wednesday


Download previous issues

Never miss an issue of That's Tianjin!

Visit the archives