Airbnb will close its local business in China from July 30

Reuters.- Vacation rental company Airbnb Inc will close all accommodations and experiences in mainland China from July 30, the company announced on Tuesday, joining a long list of Western internet platforms that have pulled out of the Chinese market.

The company made the announcement on its official WeChat account, without explaining the reasons for its decision. The San Francisco-based company said Chinese users will still be able to book overseas accommodations and experiences.

“We have made the difficult decision to refocus our efforts in China on overseas travel and to suspend our homes and hospitality experiences in China, effective July 30, 2022,” the co-founder wrote. Airbnb, Nathan Blecharczyk.

The Global Times newspaper, citing a source close to the business, said Airbnb decided to close the national business because it was too expensive and complex to operate, which had been made worse by the Covid-19 pandemic.

Airbnb did not respond to a request for comment.

The company joins a long list of Western internet companies, such as Linkedin and Yahoo, that have pulled out of China in recent months, a sign of the decoupling between the internet of the world’s second-largest economy and that of much of China. from the rest of the world.

Almost all major Western internet platforms, including Alphabet Inc.’s Google and Meta Platforms Inc.’s Facebook, have stopped serving mainland Chinese end users, citing reasons ranging from censorship to operational difficulties. .

China’s efforts to curb the spread of Covid-19 have also caused trade disruptions across the country, with several cities under lockdown, including the economic hub of Shanghai.

Follow business information and news in Forbes Mexico

CNBC first reported Airbnb’s decision early Tuesday.

the New York Times reported that Airbnb would remove some 150,000 listings in China, out of six million worldwide. Stays in China have accounted for about 1% of Airbnb’s business in recent years, according to reports.

Founded in 2008, Airbnb began serving mainland China in 2015. It has worked to localize its services, including integrating with Chinese platforms such as Tencent Holdings’ WeChat. Its main Chinese rivals are Tujia, Xiaozhu and Meituan.

Meituan vacation rental company Meituan Minsu said on Tuesday it had formed a special team to help Airbnb hosts place listings on its platform. Tujia made a similar announcement earlier today.

Follow us on Google News to always stay informed

Leave a Comment