Airbnb is shutting its domestic rentals in China as lockdowns are ongoing with the nation’s zero-COVID-19 policy. Here’s all you need to know.
Airbnb to stop its rentals in China
Airbnb is shutting its domestic rentals and experiences in China with the increasing number of lockdowns that are hindering tourism. The firm set up business in the nation in 2016. Since then, about 25 million guests have booked stays through the online home rental company. In its bid to expand in the nation, it also renamed its Chinese operation to Aibiying. Aibiying means to welcome each other with love. Additionally, the word is very easy to pronounce for Mandarin speakers.
However, the San Fransisco-based company will maintain its presence in its Beijing office. In the last few years, stays within China make up just one percent of the company’s revenue. According to sources, listings for homes and experiences in China will be removed from Airbnb’s website by Summer. Additionally, domestic rental operations for travelers visiting China are highly complicated and expensive, even before the pandemic. The Chinese government’s ‘zero-covid’ approach is prompting criticism from companies and the public. Last week’s data also reveals that the country’s industrial output and consumer spending slid to their worst in April.
More on the new focus and vision
The company is focusing on Chinese residents who are traveling abroad. According to the United Nations World Tourism Organisation, before the pandemic, Chinese travelers going abroad tripled in less than a decade. The numbers hit a record 155 million journeys in 2019. However, since 2020, travel has been extremely difficult for Chinese residents as the nation is following one of the strictest restrictions in the world.