Airbnb has made a strong recovery in 2022, achieving its first annual profit on a 40% revenue growth to US$8.4 billion, and reporting net income of $1.9 billion. Optimistic about further growth this year fuelled by the tourism industry, the company’s co-founder and chief strategy officer, Nate Blecharczyk, highlights the importance of adapting to changing consumer behaviour.
The San Francisco-based firm had to let go of 25% of its workforce in 2020 after losing 80% of its revenue due to the pandemic. The company then adopted measures to maintain cost discipline, which it continued even as travel began to bounce back faster than expected. As a result, headcount only increased marginally despite the company’s record growth in the past year.
Airbnb’s swift recovery is attributed to early adjustments, including strict cost management and service…
