American tech companies have historically struggled in China, due to factors such as a lack of understanding of the market, tough local competition, a government that heavily favors those local competitors, and occasionally, pure overconfidence.
But Airbnb thought it had at least one advantage over its Chinese competitors: while they may have had larger presences within the country, Airbnb already had a stronger portfolio of listings elsewhere in the world. Airbnb decided that in China, it would focus solely on "outbound travel" — that is, Chinese residents looking to vacation abroad — where the company felt its size gave it the upper hand, according to Blecharczyk.saying that outbound travel from Chinese guests had grown more than 700% that year, making China its fastest growing market by that metric.
Airbnb also predicted, based on its prior experience in other countries, that "Chinese travelers would go abroad, have good experiences, come home, and again, the guests would become hosts," he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wuhan coronavirus concerns prove how much Apple relies on China - Business InsiderConcerns about how Apple's iPhone production will recover from setbacks related to the Wuhan coronavirus proves the firm's reliance on China.
Source: BusinessInsider - 🏆 729. / 51 Read more »
WHO backs China as coronavirus worsens, experts paint darker picture - Business InsiderThe WHO delayed declaring the coronavirus outbreak a health emergency, and today made a point of praising China's response. Finally, some TRUTH from the press! China is ENDANGERING the ENTIRE PLANET with their evil disinformation campaign. 😷 😷 😷 😷 😷 😷 😷 nCoV2019 coronarivirus ChinaCoronaVirus 🤧 🤧 🤧 🤧 🤧 🤧 🤧 The global number of infected skyrocket, we don't know the death toll. QAnon WHO is under influence (controlled) or being bribed to speak positively about the situation. Statements sound like CCP wrote it to order. Just like realDonaldTrump and his doctor's fitness letter. The UN is corrupt, bribery happens. WHO won't share coronavirus info with Taiwan
Source: BusinessInsider - 🏆 729. / 51 Read more »
How China managed to build an entirely new hospital in 10 days - Business InsiderThe Huoshenshan hospital was modeled on the blueprints of a medical facility in Beijing, which was set to help tackle the SARS epidemic in 2003.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stocks jump on China tariff cuts, jobs data, coronavirus vaccine hopes - Business InsiderGlobal stocks climb on China's planned tariffs cuts, strong US jobs data, and hopes for a Wuhan coronavirus vaccine Yayyyy!!! Keep kicking the can down the road. China bought a ton of $tsla at 900. Need it to bounce up for sweet return Crazy Bubble.
Source: BusinessInsider - 🏆 729. / 51 Read more »