Why Africa is a perfect market for Airbnb

Africa has its luxury hotels, but not enough places for the mid-range traveler. (AP Photo/Ben Curtis)

Airbnb has ambitious plans for Africa, as its CEO, Brian Chesky, announced in Johannesburg on July 27. Already in 17 countries on the continent, the accommodation listings company has seen its listings in Africa more than double over the past 12 months, and the number of visitors increase by 145%.

Airbnb has named a general manager for the region, is considering opening regional offices, and plans to extend its “host guarantee” (which compensates homeowners for damage caused by guests) to Africa.

This enthusiasm makes sense, because Africa presents the company with a singular opportunity: There are too few budget and mid-priced hotels.

Read more: Why Africa is a perfect market for Airbnb – Quartz