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Airbnb shuts down its domestic rentals in China

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Many tourists and locals turn to Airbnb as an alternative to hotels but not anymore in China

This comes as China tackles its “zero-Covid” policy, with lockdowns ongoing.

All listings for homes and experiences in the country will be removed from the company’s website by summer.

Although China is the most populated country in the world, stays within China made up only 1% of Airbnb’s revenue over the last few years.

The domestic rental operation for travellers visiting China has been complicated and expensive to run even before the pandemic.

The company is expected to instead focus on Chinese residents travelling abroad to other destinations.

Before the pandemic, data shows Chinese travellers heading abroad had tripled in less than a decade.

But for the past two years, China has had some of the toughest Covid restrictions in the world, with strong criticism from the west on its harsh lockdowns of residents.

This follows on from Airbnb’s shut down of operations in Russia and Belarus in April.

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Will Australia’s foreign investment rule create an economic boost?

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Money

Research key to investment success

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What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

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Why “stagflation” will be the greatest financial threat of 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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