Everything you need to know about the collaborative economy
Sharing economy refers to business models based on online collaborative platforms where an open marketplace is created for the use/exchange of services or products. It is generally between individuals (P2P, Peer to Peer).
Sectors that constitute the collaborative economy
- P2P accommodation: offer of unused rooms/spaces to tourists.
- P2P transportation: share of a ride, a car or a parking space.
- Home services: platforms of professionals offering their services (food, home or do-it-yourself).
- Services for professionals: platforms of professionals offering their services to companies (advisory, accounting or consulting services).
- Sharing finance: individuals and businesses investing, lending and borrowing directly from each other (equity crowdfunding or P2P lending, often known as alternative financing).
Thanks to these five sectors, the sharing economy has generated revenues of almost €4 billion and transactions of more than €28 billion, representing a growth of 77%, compared to 2014. 2016 revenues are estimated to have increased twice over. According to the latest Eurobarometer survey, 52% of European citizens know about the sharing economy’s services, whereas 17% have used them at least once.
The success of collaborative platforms lies in allowing citizens to offer their services. They encourage new forms of employment, flexible work and sources of income, with lower prices for consumers.
The European Commission wants to ensure that all regulatory frameworks support the sharing economy. The Commission aims to prevent any regulatory framework from going against rules designed to protect the public interest. All national regulation must be under EU law and, in this case, the fundamental freedoms of the Treaty and the Services Directive.
Sharing economy in Spain
- P2P accommodation: rental housing is very popular, accounting for 25% of the total number of beds offered (almost 50% in the most touristic urban centers).
- The top 3 accommodation platforms account for 65% of the sector: Airbnb, HomeAway and Niumba.
- Alternative financing platforms are increasingly seen as a promising alternative to Banks.
The sharing economy became more than just a trend. This alternative is changing the way we live and how we manage our economy.