PwC forecasts massive growth in the sharing economy
The sharing economy will have half of the overall market in 10 years’ time, according to consultants PwC.
Speaking to delegates at the ABTA Travel Convention in Greece, PwC partner David Trunkfield forecast the sharing economy market will grow 30% every year to $335 billion by 2015.
Already, there are 17 sharing economy companies worth over $1 billion, including Airbnb and Uber.
Trunkfield said the growth of the sector is demonstrated by the fact that Airbnb reported 150 million guest stays last year, more than the largest hotel group, Hilton, with 127 million.
However, he said there are some headwinds which could impact sharing economy companies, including regulation, taxation, safety issues and the bad publicity surrounding them.
He urged ABTA delegates to put strategies in place now to deal with the rise of the sharing economy.
Travel companies need to protect their own interests, engage with these businesses and, if necessary, shift their own organisations to adapt to the change in the marketplace, he said.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season