Le Chinese dream will have lived for Airbnb after six years of presence on what appeared to be the world's juiciest market. Informed circles are now circulating the news that the world's largest home-sharing network will be withdrawing its entire range of accommodation and experiences by this summer.
Airbnb officially launched its operations in mainland China in 2016. But it has had to face increasing competition from national operators in the same segment. In addition to this competition, the Airbnb model has suffered particularly in China from the management of the Covid-19 pandemic.
The "Zero Covid" policy has not only excluded virtually all foreign visitors. It has also confined entire towns and provinces - with local residents denied access. As a result, the shared-rental market has been decimated in two years.
Until Covid, the Chinese market was one of the most important in the world for tourism, stays in China on the rental platform have only accounted for around 1% of Airbnb's revenues in recent years. And this despite the brand's reputation.
According to some sources, Chinese travel abroad has represented a greater opportunity for Airbnb. The company will therefore keep a representative office in Beijing. He will be responsible for continuing to promote Airbnb's offer abroad to Chinese travellers. But the adventure in China seems to have been put to bed for good...
