Cuba News: Communist Island Has Become Airbnb’s Fastest Growing Market
Since Obama’s decision to reopen ties with Cuba, Airbnb Inc -- a website designed to help travelers share their rooms -- has become the communist country’s fastest-growing market.
As reported by Bloomberg, Brian Chesky, the Chief Executive of the young travel company, spoke on Bloomberg Television and described how well his San Francisco-based company was doing, saying: “Forty days ago we launched in Cuba, we launched with 1,000 homes in Cuba -- today we now have 2,000 homes.”
“I don’t think we’ve ever had a market grow as fast as Cuba,” added Chesky.
In April, Airbnb became one of the very first U.S. companies to initiate operations in Cuba after Obama and Cuban President Raul Castro announced in December that their two countries would, after over 50 years of strained relations, restore their diplomatic ties.
Despite U.S. citizens still being banned from visiting Cuba as tourists, the recent changes in policy have lifted several restrictions on travel and trade between the two nations. Last month, when he met with Cuban President Raul Castro in Panama, Obama stated he would urge Congress to put an end to the trade embargo against Cuba, which has been in place for over half a century.
Speaking about the thaw between the two countries, 33-year-old Chesky said: “President Obama has a desire to bring these two communities together -- Americans and Cubans.”
“What better way to bring them together than actually in their homes?”
On Monday, the White House named Chesky presidential ambassador for global entrepreneurship. While addressing the group of young business people gathered at the event celebrating the Presidential Ambassadors for Global Entrepreneurship, President Obama stated entrepreneurship was a vital part of economic growth, adding: "I do have to say, as a quick aside, I feel kind of old hanging out with you."
"I used to think of entrepreneurs as kind of old, grizzled people, and now I'm the old grizzled person, and the entrepreneurs are all young and extraordinarily good-looking," President Obama explained.
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