Work

COVID-19 pandemic exposes the vulnerability of the sharing economy

Year: 2020

Type: preprint

Abstract: The outbreak of COVID-19 pandemic has resulted in a global economic recession but little is known about its impact on the informal economy including peer-to-peer rental market. Against this backdrop, this study assessed the financial loss of Airbnb listings and its hosts in Sydney from January to March 2020. Findings show that the pandemic resulted in 70% income loss for Airbnb hosts with hosts suffering eight times higher than the Airbnb platform itself. However, like other gig workers and freelancers, many Airbnb hosts are not qualified to claim the financial aids from the government in Australia. Our study shows the vulnerability of the sharing economy during a time of crisis. It contributes empirical evidence to the widening public debate on the sustainability and the sharing economy but most importantly, raises concerns over the sharing economy’s contribution to a resilient society and economy.

DOI: 10.21203/rs.3.rs-26460/v1

Authors: Guangwu Chen, Mingming Cheng, Deborah Edwards, Lixiao Xu

Institutions: Beijing Normal University, Curtin University, University of Technology Sydney

Language: English

Topic: Sharing Economy and Platforms

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Decent work and economic growth, Reduced inequalities, No poverty, Sustainable cities and communities

Open Access status: green

OpenAlex ID: W3124748856

Cites: 5

Cited by: 13

Related to: 10