May 24, 2022

Airbnb to quit China as lockdowns restrict tourism

The company is expected to instead focus on Chinese residents travelling abroad to other destinations. Chinese travellers heading abroad had tripled in less than a decade, reaching 155 million journeys in 2019, according to the United Nations World Tourism Organisation. Some 25 million guests have booked stays there through the online home rental company. A source familiar with the company's decision said the domestic rental operation for travellers visiting China had been complicated and expensive to run even before the pandemic. Guest's details were sent to the Chinese government in line with local laws and regulations, and the company has faced strong competition from native Chinese home-rental platforms.

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