2014.Travel-and-the-Sharing-Economy.Euromonitor-International.pdfVIP

TRAVEL AND THE SHARING ECONOMY September 2014 ? Euromonitor International PASSPORT 2 TRAVEL AND TOURISM: TRAVEL AND THE SHARING ECONOMY Disclaimer Much of the information in this briefing is of a statistical nature and, while every attempt has been made to ensure accuracy and reliability, Euromonitor International cannot be held responsible for omissions or errors. Figures in tables and analyses are calculated from unrounded data and may not sum. Analyses found in the briefings may not totally reflect the companies? opinions, reader discretion is advised. The travel sharing economy is host to some of the world’s most famous peer-to-peer brands like Airbnb and Uber. It’s a love-hate relationship as consumers enjoy the convenience and price of renting from peers, whilst travel players have been caught on the back-foot by the speed of change. Faced with legislative challenges, the future of the sharing economy remains uncertain, however, we expect travel and retail heavyweights to enter the fray and add to the sector’s legitimacy. Scope INTRODUCTION ? All values expressed in this report are in local currency in current price terms. ? 2013 figures are based on part-year estimates. ? All historical and forecast data are expressed in constant terms; inflationary effects are discounted. Conversely, all historical data are expressed in current terms; inflationary effects are taken into account. Travel Sharing Economy Accommodation Transport In-destination Activities EXECUTIVE SUMMARY DEFINING THE SHARING ECONOMY AIRBNB SHAKES UP ACCOMMODATION CAR SHARING AT A CROSSROADS OPPORTUNITIES AND FUTURE DIRECTION ? Euromonitor International PASSPORT 4 TRAVEL AND TOURISM: TRAVEL AND THE SHARING ECONOMY EXECUTIVE SUMMARY Key findings Transformed by technology The sharing economy has existed for many years, but has now been transformed by advancements in technology enabling secure online payment and geo-location appli