Chinese are the largest tourist demographic on earth, and as China and many other countries keep their borders closed, companies servicing this massive body of travelers are experiencing enormous losses.
Mafengwo is rumored on Maimai, China’s LinkedIn, that it will lay off 40% of employees with severance pay amounting to two months’ pay per year of service.
Chinese travel service provider Ctrip announced yesterday that it will be launching an overseas ride-hailing service on its app to help Chinese tourists on their travels outside of China.
This year's overseas monthly active users (MAU) of Ctrip, a Chinese travel-booking company, took up nearly half of its total MAU, Ctrip CEO Sun Jie announced in an open letter on Dec. 28.
In Ep. 27 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma discuss the latest scandal to come out of Chinese internet -- fake reviews on one of China’s leading travel websites, Mafengwo. Mafengwo had $1.5 billion in sales last year, 63k transactions, and over 100 million monthly active users.