Airbnb predicts doubledigit growth as it reaches out to Chinese millennials

Airbnb expects to reach doubledigit business growth in Thailand by the end of this year. The firm has also said that it is developing software to help encourage 400 million millennials and middleclass people in China to book through Airbnb when they travel.
Nate Blecharczyk, Airbnb’s co-founder, said that the firm is now providing various “experience” categories to support its customers. These include targetting people interested in local culture, adventure, and unique, authentic experiences provided by local people. He said this would help create economic benefits in Airbnb’s local areas by leveraging the tourism industry both globally and in Thailand, which is the fastest growth market and the most popular destination in Southeast Asia.
“Thailand is one of the most popular destination in the world,” Blecharczyk said. “Last year in Thailand, we had 55,000 homes listed on the Airbnb system. It has over 10,000 listed homes in Bangkok and around 4,000 homes in Koh Samui to serve travellers.”
He noted that there were 982,000 inbound international guest arrivals to Thailand in 2016, which was 150 per cent of the figure for the previous year. International guests spent Bt13 billion to support their travels, including shopping, eating and accommodation.
Meanwhile, about 350,000 Thais travelled to international countries last year – also 150 per cent of the 2015 figure.
Blecharczyk said the firm expected it would report doubledigit business growth in Thailand by the end of this year.
He added that the top four destinations for international travellers in Thailand are Bangkok, Chiang Mai, Phuket and Koh Samui.
Meanwhile, Thai guests have travelled to over 100 countries. The top five destinations that Thais have booked through Airbnb are Tokyo, Osaka, Pattaya, Bangkok and Hua Hin.
Blecharczyk said that Airbnb hoped to expand its services to support young people – the socalled millennials – and the middle class in China, who are the biggest travellers in the market.
The firm has developed software that was easy to use and supported Chinese payment methods, plus a presence on social media and app stores.
“Tourism is the biggest industry in the world and Thailand,” said Blecharczyk.
The firm now has more than 65,000 cities listing homes with Airbnb and 191 countries have Airbnb listings. It has over 4 million listings and about 2 million hosts worldwide.