Airbnb withdraws from China

Airbnb will no longer offer accommodation or „experiences“ in China from July 30, according to Reuters. The company, founded in San Francisco in 2008, had been active in China since 2015. Since then, Airbnb has served around 25 million customers there. However, bookings in the People’s Republic recently accounted for only one percent of global bookings. In addition to the pandemic, a growing number of domestic competitors, above all the providers Tujia and Xiaozhu, are considered to be the reason.