'Mass travel is going to be replaced by meaningful travel' -Airbnb CEO

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Traditional tourism and sightseeing at top global destinations would be significantly reduced by travelers who will drive to smaller communities and fly less for business meetings.

The startup was hit by the COVID-19 pandemic in early 2020 and its business dropped by 80% in a little over eight weeks.

However, as lockdowns eased, more travelers opted to book homes instead of hotels, helping Airbnb post a surprise profit for the third quarter. The San Francisco-based firm gained from increased interest in renting homes away from major cities.

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