Airbnb CEO Brian Chesky eyes India’s booming market with high aspiration

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Vacation rental company Airbnb Chief Executive Officer (CEO) Brian Chesky on Thursday (May 2) said the company is confident of a boom in India, citing its burgeoning population, vibrant hospitality culture, and digital-savvy youth demographic.

Speaking exclusively to CNBC-TV18’s Shereen Bhan, Chesky, said, “…my prediction is that Airbnb will boom in India, it’s, you know, an emerging market for us. We have very low awareness, very low penetration, but the enthusiasm is high.”

Recognising India’s status as the world’s most populous nation, Chesky highlighted the unique factors that position India as a promising market for Airbnb’s hospitality platform.

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“The plans, and aspirations are huge,” Chesky remarked, underlining India’s cultural ethos of hospitality and its youthful population as key drivers of Airbnb’s potential success. Emphasising the digital-first nature of the Indian market, Chesky noted the propensity of younger generations to embrace alternative accommodation options over traditional hotels.

With an eye on India’s emerging middle class, Chesky outlined the correlation between economic prosperity and increased travel aspirations. “What is one of the first things that happens when the middle class emerges in the modern world? They travel,” he affirmed, predicting a surge in demand for Airbnb’s services among Indian travellers seeking global experiences.

Despite the current low awareness and penetration levels in India, Chesky expressed optimism about the market’s enthusiastic reception towards Airbnb. Leveraging strategic partnerships and targeted initiatives, such as the recent collaboration with Bollywood star Jhanvi Kapoor on an icon experience, Airbnb aims to amplify its presence and relevance in India.

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“And I think things like icons are perfect because it allows us to focus on key segments and key geographies. So like, obviously, we had a relationship with Jhanvi Kapoor, one of the biggest stars in Bollywood,” Chesky said.

Reflecting on his affinity for the country, Chesky said he plans to visit India soon, citing it as one of his favourite destinations. “It’s one of my favourite countries. I’ve been there once. But I just cannot believe how rich the country was. It was wonderful,” he added.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow