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Introduction
In 2008, the Airbnb company was founded in San Francisco, California, USA. Today, the company has become a major force in the online marketplace for peer-to-peer lending. Airbnb allows consumers to rent or list periodic stays in residential properties in the countries of their choice, with the lodging costs established by the property owners (Abelsohn 24). As a result, the business earns money through commissions from the owners of the properties and the clients it serves. It is noteworthy that since the company’s founding in 2008, it has grown its operations to over 191 countries and has listings in most of those cities (Soto-Acosta, Simona and Daniel 3). The business has received praise for using its website to match suppliers or property owners with people looking to rent out facilities (Abelsohn 24). In reality, it is thought to have established a new economic paradigm through which millions of investors become business owners (Stors and Andreas 17).
However, the demand for such services in the tourism sector keeps rising as the company’s relevance and local impacts are held in higher regard. As a result, the business has been obliged to diversify its activities across the globe. The organization’s performance on a global scale has been significantly impacted by the popularity of the services in online media (Albalate, Germà, and Xavier 80). However, before expanding operations, the corporation had to qualitatively study alternative markets in overseas markets. The market’s size, the amount of competition, and the legal and political issues are some other elements to consider while assessing the market.
Again, the corporation must consider various essential variables before deciding whether to enter a new market, including social and cultural aspects, relative wage rates, access to research and development, logistical needs, client needs, and infrastructures. Therefore, this essay assesses the impact of these variables on Airbnb Company’s introduction into Spain in the European zone…
