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Airbnb hopes its sponsorship of the Olympics in Rio will finally propel the homesharing behemoth up to the rank of “mainstream” in its fourth-largest market.
Unfortunately for Airbnb, it’s likely Brazil’s economic havoc, political turmoil and health crisis will take people’s eyes away from the firm’s first foray into global sports. But Airbnb optimistically says Brazil’s problems will actually help the company, especially given the country’s massive accommodation shortage, the Wall Street Journal reports.
And it may be right.
Airbnb has 25,000 listings in Rio—that’s up over 2,600% from the 900 it had in 2012. And given Brazil’s economic woes, more Brazilians are stuck traveling domestically, and that means they’re more likely to fill those rooms. [WSJ]
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