India
is one of the “fastest-growing markets” for
online accommodation hosting platform Airbnb and the country has the potential
to be among its top 10 global markets in the coming years, according to its
Chief Business Officer Dave Stephenson. The company is investing in India to
tap the opportunity of a rapid rise in tourists travelling to foreign
destinations as well as domestic places that are rapidly growing post-pandemic
and where 90 per cent of its first-time bookers are Gen Zs.
“It
(India) is one of our growth markets and we see a huge opportunity for growth
in India in the future. In India, nights booked grew by almost 30 per cent YoY
(Year-on-Year) in 2023 compared to 2022, which is a positive sign,” Stephenson
told PTI.
For
Airbnb, India is going to be “a large travel market”, where it has seen a
“strong desire” among the “Indian travellers to venture overseas as well as
explore domestic destinations, especially those off the beaten path”, he said.
Though,
Stephenson did not any specific growth numbers but said India is a “focus area”
and “is one of our fastest-growing countries”.
When
asked as whether India figures among Airbnb’s top 10 markets globally,
Stephenson replied in negative. Further he said, “It should be one of the top
10 markets. It is getting to be a large travel market and we definitely think
it can be. That would be the goal.”
Airbnb
is investing specifically in India, where a number of tourists travelling to
foreign destinations as well as domestic places are on the rise post-pandemic
and is supporting them to stay in its range of “inexpensive homes all the way
to luxe homes”.
It
has witnessed a whopping 75 per cent jump in international group travel
bookings from India, where families/friends are going abroad for vacations. It
has added features like the collaborative wishlist, where it is helping these
groups find a perfect place.
“Indians
are inspired by Cricket and Bollywood, and they want to explore the world. If
they stay domestically, they are going to places like Goa and enjoying. But
also, if they have the opportunity to travel abroad, they love to go to Italy
and places that they’re inspired by from the movies,” he said.
Currently,
90 per cent of its first-time bookers are Gen Zs. Moreover, Airbnb is
supporting the inbound flow of international travellers coming to India.
Airbnb
is “working closely with the government in their vision to make India one of
the most sought-after tourist destinations in the world”, Stephenson said.
It
has partnered with the Ministry of Tourism and curated a dedicated microsite
which spotlights heritage stays across India. It has also partnered with state
governments of Goa, Madhya Pradesh, Uttarakhand, and Maharashtra, among others,
to promote lesser-known destinations and conduct capacity-building workshops,
he said.
Also
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