Millennials dominate China's Airbnb market

The post-1980s and post-1990s account for 70 percent of total Chinese landlords of Airbnb, a US-based firm that provides online bookings for homestay services, while the proportion of these landlords is increasing in the second- and third-tier cities and holiday destinations, according to a new report issued by the company.

The report said the average age of Airbnb's Chinese landlords is 33, and the female landlords take up 62 percent. More than 90 percent of these landlords have another occupation, and 87 percent have bachelor degrees and above.

It is noteworthy that one-fifth of the Chinese landlords come from the creative and related industries, ranking the first across the globe, the report said.

In addition, the nine-year partnership between the International Olympic Committee and Airbnb, especially the Olympic Winter Games in Beijing 2022, is expected to bring about huge growth potential to Chinese landlords communities.

The report said apart from traditional first-tier cities such as Beijing, Shanghai and Guangzhou, Airbnb is becoming more popular among millennials from Chongqing, Xi'an and Chengdu.

Statistics from the State Information Center, the market for home-sharing services is expanding rapidly in the country, with the sector's revenue expected to reach 50 billion yuan ($7.1billion) by 2020.

It forecast that by 2020, the number of tenants is likely to exceed 100 million and the number of shared homes will exceed 6 million.