Airbnb is giving up on tourism in China
Airbnb plans to stop offering home lodgings in China this summer, though it will continue to offer services for outbound Chinese travelers.
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Airbnb plans to stop offering home lodgings in China this summer, though it will continue to offer services for outbound Chinese travelers.
Airbnb (ABNB) is reportedly shuttering its domestic Chinese operation.
Airbnb is closing its domestic business in China, according to two sources familiar with the matter," reported CNBC's Deirdre Bosa on Monday.
Fresh COVID-19 cases in multiple cities have dimmed traditional segments of the 3.81 trillion yuan ($563.06 billion) tourism industry in China, but camping in suburban areas has emerged as a bright spot, spawning a niche business that could be worth 35.5 billion yuan in annual sales revenue this year, insiders said.
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