According to a recent survey, the total turnover of Estonia’s three largest sharing economy sectors reached €40.3m in 2016, and is expected to keep growing at a fast pace.
Technopolis Group and Ernst & Young, who conducted the survey, forecast that by the year 2020 this amount will have quadrupled. Also, over the past few years the amount of sharing-economy platforms had doubled, and their turnover grown by 7.5%.
The biggest growth had happened in the accommodation and financial services sectors. The increasing trend had materialized also in the growing number of people working in these sectors, and would bring new opportunities for businesses as well as consumers and affect the Estonian economy positively.
The survey identifies the fact as an advantage that the sharing economy meant additional markets, gaining customers that previously didn’t use similar services because they were too expensive, not comfortably available, or didn’t fit in with their requirements.
Compared to the other economic sectors, the sharing economy still hardly has any impact, making up just 0.1% and 1% of the transport and financial services sectors, respectively. Its share is biggest in accommodation, at some 7.8%.
The survey covered the accommodation, transport, financial services, education, personal, and business service sectors. The aim was to analyze the Estonian sharing economy’s market size as well as its growth potential.
Editor: Editor: Dario Cavegn