Airbnb has decided to close its Chinese domestic rental properties. China is governed by a zero-Covid policy, which means that lockdowns are ongoing.
According to a source, all listings for properties and experiences in the country would be removed from the website of the company by the end of summer.
Over the past few years, only 1% Airbnb's revenue came from stays in China.
Instead, the company will be focusing on Chinese citizens who travel abroad to other destinations.
According to the United Nations World Tourism Organisation, Chinese tourists who traveled abroad before the pandemic tripled in a decade. They travelled 155 million times in 2019.
However, China has had some the most severe Covid restrictions around the globe since 2020. This makes it extremely difficult to travel within the country and around China.
In 2016, Airbnb opened its China business. Airbnb has been in China since 2016. It now hosts over 25 million visitors.
However, a source close to the decision of the company said that the domestic rental process for Chinese tourists was complicated and costly even before the pandemic.
For example, the Chinese government received guest details in accordance with local laws and regulations. The company has also faced fierce competition from home-rental companies from China.
It renamed its Chinese operation Aibiying (Ai Bi Ying ), in 2017 as part of an expansion plan. This means that it welcomes each other with love, which is easier for Mandarin speakers.