Airbnb is now leaving China as well, according to The Wall Street Journal. Previously, the company ceased operations in Russia.
It is reported that all properties in mainland China will no longer be available for booking this summer. However, Airbnb will retain access to overseas property bookings for Chinese customers.
Recall that Airbnb has been operating in China since 2016 in the face of fierce competition from local players. In recent years, the company’s revenue has also fallen due to the “zero tolerance for coronavirus” policy of the Chinese authorities. China brought Airbnb no more than 1% of revenue, but maintaining the service in this country required serious expenses.