Airbnb Searches Increase Up to 35 Times in One Year... "Travel Demand Explodes"

Airbnb and Expedia Stocks Rise 20% and 30% Respectively
CNN: "People Who Stayed Home Long-Term Will Have a Surge in Travel Desire"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] The number of accommodation booking searches on Airbnb, a U.S. accommodation sharing company, surged up to 35 times compared to March last year when the COVID-19 pandemic began. This has led to observations that the travel industry, which was hit hard by the spread of COVID-19, is showing signs of recovery.

According to CNN on the 28th (local time), major U.S. travel companies such as Airbnb and Expedia are showing signs of recovery in their stock prices and booking numbers. This has also influenced their stock prices, with Airbnb rising more than 20% since the beginning of the year and Expedia increasing by over 30%.

CNN reported, "People are flocking to airports and roads for the upcoming spring holidays," adding, "Accommodation bookings for summer travel are already rapidly increasing."

In fact, the number of accommodation search queries, which is the stage before booking, has significantly increased. According to Airbnb, recent accommodation booking searches have increased up to 35 times compared to March last year when the COVID-19 pandemic began. Specifically, searches for balconies and gardens as places for family and friend gatherings increased by 35 times and 8 times respectively. Additionally, searches for outdoor barbecue areas as party venues for the U.S. Independence Day on July 4th increased 19 times.

Although this increase is in the number of accommodation searches rather than confirmed bookings, it shows signs that travel demand is recovering, leading to optimistic views in the travel industry. According to a public opinion survey conducted by U.S. polling firm ClearPass Strategy in December last year, 54% of respondents said they had already completed accommodation bookings or were making concrete travel plans when asked about their travel plans for this year.

An Airbnb official stated, "President Joe Biden announced that most citizens in the U.S. will complete vaccination before July 4th (Independence Day)," adding, "As a result, summer travel demand is expected to surge."

There is an analysis that the accumulated fatigue from prolonged social distancing measures and remote work will explosively drive the recovery of travel sentiment going forward. CNN reported, "For people who have been staying at home due to the spread of remote work and online classes, the desire to go outside will grow stronger," adding, "This is expected not only to increase the number of travelers but also to significantly extend the duration of trips compared to before."

This content was produced with the assistance of AI translation services.