Bangkok, Thailand - Airbnb, the world's leading community-driven hospitality company, announced it has signed leading companies in Asia Pacific (APAC) -- like Hyundai Motor Company, Culture Convenience Club Co. Ltd, etc. -- to its Airbnb for Work program as it capitalises on the region's booming Business Travel sector.
The Global Business Travel Association estimates that APAC accounts for the largest proportion (40%) of the global USD$1.2 trillion business travel spend, and with overall market expected to grow by 3.7% per year over the next decade. Specifically in Asia, corporate travel spending looks to double to $645 billion annually, comprising half of global spending and outperforming the Americas.
75% of all Asia Pacific business travel occurs within the region, signifying a huge growth opportunity for Airbnb for Work. In fact, Airbnb in APAC has seen 5X year on year growth in corporate travel bookings between 2016 and 2017, outpacing the Airbnb global average of 4.3x over the same period. Since launching the program, approximately 53,000 companies in Asia Pacific have used Airbnb for Work.
David Holyoke, Global Head of Business Travel, comments:
"We're seeing more and more business travelers looking for unique accommodations that match their lifestyles, similar to the authentic experiences that come from leisure travel. By using Airbnb for business travel, people can get under the skin of a city by understanding its culture and hidden gems through locals and living in a neighborhood."
He adds, "This is why more than 250,000 global companies have used Airbnb for Work and 15% of Airbnb customers travel for business. Airbnb business travelers in Asia now extend their business trip to include a weekend, with an average of six days instead of four."
Airbnb for Work is an expanded product on Airbnb's travel platform, helping companies of all sizes cater to their employees' diverse travel needs by allowing business travelers to directly book Airbnb accommodations and automatically expense them back to their employers.
Quotes from Airbnb's Clients:
"We have more options to choose from, especially during peak travel seasons. Employees also find it fun and imaginative when it comes to selecting their listings, which aligns to our company's value as a lifestyle-driven marketing company. For our travel managers, it is easy to manage bookings through the customised dashboard which allows visibility into all employees' past, present and future trips." - Toshio Matsuura, Head of Human Resources, Culture Convenience Club (CCC).
"Airbnb is a successful innovator in the sharing economy marketplace, providing a cost-effective solution for companies appreciating the option of alternative travel accommodation in all over the world. With Deloitte offices across the region, Airbnb listings provides our employees the flexibility in choosing their own accommodation while suiting our company's budget and needs. Airbnb for Work has provided us an alternative option. Partnerships with companies like Airbnb is revolutionary for businesses and Deloitte is glad for the opportunity to collaborate." - Dr. Janson Yap, Regional Managing Partner, Deloitte Risk Advisory, Southeast Asia and Asia Pacific.