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Airbnb bookings surge in China

Airbnb reported strong financial results for Q4 2023, with a record-high of 99 million bookings, a 12 percent increase year-on-year. Revenue reached $2.2 billion, up 17 percent, despite a net loss of $349 million. The platform saw a surge in first-time bookings and surpassed 5 million hosts globally, with over 7.7 million active listings. The Asia-Pacific region, especially China, experienced significant growth, with a 22 percent increase in bookings and nearly 30 percent growth in cross-border travel, driven by China's outbound tourism recovery. CEO Brian Chesky highlighted China's rapid outbound tourism growth, expecting it to exceed 2019 levels by year-end.

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