American families are looking harder at life outside the U.S., weighing cheaper housing, healthcare, and everyday costs against staying put. That shift in mindset ties directly to markets because it influences where people live, work, and spend. Some stocks are closely exposed to this trend in global mobility and expat living, while others face possible headwinds as money flows elsewhere. This article unpacks three stocks connected to these expat themes, showing how the same news can be a tailwind for two and a potential drag on one, so you can think more clearly about what the expat story might mean for your portfolio.

Zillow Group (ZG)

Overview: Zillow Group runs a suite of real estate websites and apps that connect home buyers, sellers, renters, agents, and lenders across the United States, wrapping listings, marketing tools, and transaction services into one digital ecosystem. Its brands span home search, rentals, mortgage origination, and closing services, aiming to make more of the housing journey happen online.

Operations: Zillow Group generates US$2.7b in revenue from its Internet Information Providers segment, all from customers in the United States.

Market Cap: US$7.7b

Investors may consider Zillow Group because it sits at the center of U.S. housing search at a time when affordability pressures and expat interest raise questions about how much domestic transaction volume it can count on. The company is pushing deeper into software, mortgages, and rentals to diversify away from traditional agent advertising. It still relies heavily on real estate commissions and faces legal and regulatory risks, including antitrust scrutiny around partnerships. In addition, a very high P/E and mixed share price performance leave limited room for disappointment if housing demand softens or product initiatives do not meet expectations. The balance between its digital strengths and these macro and regulatory headwinds is a key focus for investors.

Zillow Group’s high P/E and reliance on U.S. housing commissions could be masking pressure points that do not fully show up in headlines yet. Before assuming the digital pivot offsets those risks, walk through the analysis report for Zillow Group.

Airbnb (ABNB)

Overview: Airbnb operates a global online platform where people can book places to stay and experiences hosted by locals, using its website or mobile app to connect guests with hosts offering everything from spare rooms to entire homes and activities.

Operations: Airbnb generates US$12.6b in revenue primarily from its Internet Information Providers segment, with demand spread across North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific.

Market Cap: US$86.6b

Airbnb is closely linked to the work from anywhere and try-before-you-move trend, which aligns with growing American interest in longer stays abroad. Around a quarter of nights are for stays longer than 28 days, so a meaningful slice of Airbnb’s business already looks more like living than holiday travel, and management is investing in product and AI tools to make that easier. On the numbers side, Airbnb combines strong profitability, high ROE and active buybacks with a P/E that reflects solid expectations rather than very optimistic assumptions. The key risks include rising regulation in cities and countries that want tighter control of short term rentals, as well as insider selling and funding risk that investors should not ignore.

Airbnb’s mix of global reach, longer stays and active buybacks is intriguing, but the real story sits in how those pieces fit together financially, in terms of risk, and what the analysis report for Airbnb quietly reveals next

Marriott International (MAR)

Overview: Marriott International runs, franchises, and licenses a wide range of hotel, extended stay, timeshare, residential, and even yacht brands worldwide, from luxury flags like The Ritz Carlton and St. Regis to mid scale and budget options such as Courtyard, Fairfield, and Moxy.

Operations: Marriott International generates US$3.5b from U.S. & Canada, US$1.2b from EMEA, US$541m from Asia Pacific excluding China, US$295m from Greater China, and US$2.9b from unallocated corporate and other activities.

Market Cap: US$96.6b

Marriott International is closely linked to the expat and global mobility story, with a broad portfolio of extended stay and mid scale brands that can capture longer international stays as more Americans try life abroad. The company has a large Marriott Bonvoy membership base, an asset light model and strong profitability, but carries a premium P/E, high leverage and a recent dip in margins that leave less room for error if travel or pricing soften. At the same time, management is expanding into wellness, branded residences and technology such as AI powered search, which could deepen guest relationships and add higher margin revenue streams. A key consideration is how that growth and debt profile compare when you look past the headline travel optimism.

Marriott International’s premium P/E, strong profitability and expanding brands could be telling a bigger story about where returns and risks are really coming from, and the 2 key rewards and 2 important warning signs might show what the headline numbers are not.

Take Control of Your Investment Journey

If Airbnb or any of these companies have caught your attention, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value and track any new developments as they happen. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Curious About Alternative Stock Paths?

Fresh ideas often move first, and some opportunities can be gone once momentum takes hold and prices start moving sharply. Instead of waiting, consider exploring lesser-known areas while they may still be off most investors’ radar.

• Spot potential breakout turnarounds early by scanning the 20 high quality undiscovered gems that most investors have not fully caught onto yet, so you can react while it still matters.
• Focus on structural demand shifts by reviewing 33 power grid technology and infrastructure stocks that are aligned with long term electrification themes, before broader attention leads to wider awareness.
• Identify potential income-oriented ideas by reviewing the curated 8 dividend fortresses that aim to keep cash flows coming even when sentiment swings and others are scrambling to adjust.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.