Airbnb is leaving China due to tourism restrictions.
Airbnb is ceasing domestic rentals in China, where a “zero-Covid” policy has resulted in ongoing lockdowns.
According to a source familiar with the situation, all listings for homes and experiences in the country will be removed from the company’s website by the summer.
Over the last few years, stays in China accounted for only 1% of Airbnb’s revenue.
Instead, the company is expected to concentrate on Chinese residents traveling abroad to other destinations.
According to the United Nations World Tourism Organization, prior to the pandemic, Chinese tourists traveling abroad had tripled in less than a decade, reaching 155 million journeys in 2019.
But since 2020, China has had some of the toughest Covid restrictions in the world, making travel into and around the country extremely difficult.
Airbnb set up its business in China in 2016. Since then, some 25 million guests have booked stays there through the online home rental company.
But a source familiar with the company’s decision said the domestic rental operation for travelers visiting China had been complicated and expensive to run even before the pandemic.
For example, 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.