Airbnb China reported that its business in the second half of 2018 was expected to have grown nearly three times, and domestic business in China maintained strong momentum and accounted for more than 50% of its overall portfolio.
The latest business performance was reported in Airbnb’s recent press conference themed “Redefine Travel” held in Shanghai. Mr. Tao Peng, president of Airbnb China, also shared insights on the travel trends of Chinese tourists, the progress with building an Airbnb community in China, as well as travel demand projections for the 2019 Spring Festival.
In the event, Airbnb released its 2018 China Travel White Paper, sharing insights on the travel preferences of Chinese travelers, especially the millennials.
The report shows that people born in the 1990s have become the main travel force in China, and domestic destinations are their preferred choices. More than a third of these travelers like free independent travel, and over 60% travel in groups of two and three people.
Family travel comprised 30% of group travel. Kitchens and washing machines become key considerations in selecting accommodation.
The report also showed that outbound travel is still growing rapidly, and Southeast Asia continues to be the most popular destination. In 2018, Chinese travelers traveled to more than 3,800 cities in 200 countries and regions, more than 50% of them are in Southeast Asia. The top ten destinations for Chinese travelers are Japan, the U.S, Thailand, Australia, the UK, South Korea, Canada, France, Malaysia and Italy.
Airbnb projected that Chinese travelers would travel to 618 cities across 88 countries and regions during the Spring Festival of 2019. The top ten outbound destinations will be Japan, Thailand, the U.S, New Zealand, Australia, Malaysia, South Korea, the Philippines, Singapore and Spain.