DUBAI: International rental platform Airbnb is eyeing up Saudi Arabia as the next “very exciting” emerging market as the multibillion-dollar start-up gains a greater foothold in the Middle East.
Hadi Moussa, general manager for the Middle East and Africa at Airbnb and head of EMEA Business Development, said that the Kingdom holds great potential for the global accommodation sharing service — which is set to mark its tenth anniversary next month — especially as the Arab country looks to enhance its tourism and hospitality sector as it continues to diversify its economy.
“Saudi is a very exciting market because of all the opportunities this country represents; it has all of these big initiatives; Vision 2030 is a huge project and really focuses on increasing the level of tourism,” Moussa said.
“In general, we are very excited about the Middle East right now; if you think of some of the big schemes that are coming up in the region right now — Dubai’s Expo 2020 — as well as Saudi’s Vision 2030, and all the other big projects in the region — it means there is greater focus on hospitality.
“It is a great time to be more engaged in the region to try and help all these cities with all these projects and events and obviously this presents a big opportunity for Airbnb as well — and that is why we are becoming more engaged in the region as a whole.”
Airbnb is a online marketplace that allows people to list their living spaces to be leased or rented by users looking for short-term lodging. Ten years on from its Aug. 11, 2008 debut as Airbed & Breakfast, Airbnb is worth an estimated $31 billion and has a stock of 5 million accommodation units advertising with it globally in 81,000 cities across some 200 countries. As he looks ahead to the next years of the company’s ambitious goals, Moussa said the Middle East is a top priority for the US-based unicorn.
FASTFACTS
Airbnb is a online marketplace that allows people to lease their living spaces / Airbnb is worth an estimated $31 billion and has a stock of 5 million accommodation units / The web-based phenomenon is now the second-most-valuable US tech startup after Uber
