The sharing economy is one of the eight trends which we see as combining to create The New Consumerism. The New Consumerism sees today’s consumers reassessing their priorities and increasingly asking themselves what they truly value: Why own something that I only use sporadically? Why accumulate more belongings when I could be out experiencing life? Why pay for space I don’t use? Why work 9-5?
New report explores rise of sharing economy in lodging
Whether out of fear, interest or simple curiosity, the sharing economy is front of mind of many players in the lodging industry and beyond. The rapid rise of players like Airbnb and HomeAway has resulted in extensive media coverage, scrambling legislators and heated discussions within the travel industry. Renting or sharing a private room, flat or house is not a new phenomenon and has a long and rich history in many countries. Growing internet access and enhancements in online payment facilities, however, have boosted the practice and resulted in the rise of a plethora of companies facilitating exchanges.
Euromonitor International has added a brand new category to its lodging coverage, short-term rentals, which captures the strong growth of the sector with market sizes for 135 countries, and highlights the largest players with company and brand shares for 58 countries.
Short-term rentals data and related analysis will become available from the 27th of June, as part of the Travel 2016 launch, but the first global briefing analysing short-term rentals data is now available on Passport. Providing insights into legislative issues, societal and environmental impacts, and a future outlook, this briefing is a must-read to understand current and future developments of the sharing economy in the lodging industry.