Airbnb to exit China as lockdown limits tourism
Written byTimes Magazine
Airbnb is finalizing its domestic lease in China, where its Zero Covid policy means lockdowns are underway.
All ads for homes and experiences in the country will be removed from the company's website by the summer, a source familiar with the matter told the news.
Living in China has only accounted for 1% of Airbnb's revenue in recent years.
Instead, the company is expected to focus on Chinese citizens traveling overseas to other destinations.
Before the pandemic, Chinese travelers going overseas tripled in less than a decade, reaching 155 million trips in 2019, according to the UN World Tourism Organization.
But in 2020, China has some of the most burdensome Covid restrictions globally, making travel in and around the country extremely difficult.
Airbnb launched its business in China in 2016. Since then, around 25 million guests have booked accommodation through online rental companies.
However, a source familiar with the company's decision said that the rental process for travelers visiting China was complicated and expensive even before the pandemic.
For example, guest data is sent to the Chinese government by local laws and regulations, and companies face stiff competition from local Chinese rental platforms.
In 2017, as part of its expansion efforts, it changed the name of its Chinese operation to Aibiying (爱彼迎) — meaning greeting each other with love — which is easier for Chinese speakers to pronounce.
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