Contenu connexe Similaire à Euromonitor_Future_of_Travel_Sharing_Economy Similaire à Euromonitor_Future_of_Travel_Sharing_Economy (20) Euromonitor_Future_of_Travel_Sharing_Economy3. © Euromonitor International
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Why the rise of the sharing economy?
KEY TRENDS AND CHALLENGES
Economics
Environment
Community
Response to recession and green zeitgeist
Driven by urbanisation and technology
Generation Y initial adopters but more diverse appeal
Source: What’s Mine is Yours: the Rise of Collaborative Consumption, Rachel Botsman
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Technology key role in
developing the sharing
economy
Social networks & reviews
provide confidence
Mobile & geo-based apps –
on the go bookings & real-
time info
Technological disruption plays a critical role
KEY TRENDS AND CHALLENGES
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Quantifying private rentals
KEY TRENDS AND CHALLENGES
Global % Value Breakdown
of Travel Accommodation 2013
Hotels
Private accommodation
Other accommodation
US$37 bn private rental sales, majority in Asia and Europe
Dwarfed in comparison by global hotel sales – only 6%
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Airbnb and HomeAway competing with OTAs / TOs
Expedia lists HomeAway properties
Expected to enter GDS to target business travel
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2009 2010 2011 2012 2013
US$million
Leading OTAs vs Rental Brands Value
Sales 2009-2013
Expedia Priceline.com
HomeAway Airbnb
Sharing brands rise up the ranks
KEY TRENDS AND CHALLENGES
Paris
€185 million
1,100 jobs
New York
€461 million
4,577 jobs
Sydney
€140 million
1,642 jobs
Berlin
€100 million
3,166 jobs
Barcelona
€175 million
4,000 jobs
Economic Impact of Airbnb 2013
Source: AirbnbSource: Euromonitor International
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Uber valued at US$40 billion, only 6 years old
55 countries, 250 cities
Controversy - legal challenges, protests and court cases
Uber goes for global expansion
KEY TRENDS AND CHALLENGES
Key Car Metrics 2007-2014
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Car share members to grow
from 2.3 million members to
12 million by 2020 (Navigant
Research)
Zipcar -
AvisBudget
US$296
million
870,000
members
Hertz 24/7 -
available in 9
countries
by the hour
BlablaCar –
ride- sharing
10 European
countries
Drivy -
France,
250,000
members,
16,000
vehicles
Sharing and car rental converge
KEY TRENDS AND CHALLENGES
Key Players in Car Sharing
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Legislative hurdles to overcome
KEY TRENDS AND CHALLENGES
Tax
Owners or
drivers not
paying tax
on revenue
earned
Workers
Rights
No
insurance,
pension,
overtime/
holiday pay
Regulations
Lack of
background
checks
Unmet
safety
regulations
Zoning
Residential
zones
ignored -
noise &
mess
10. KEY TRENDS & CHALLENGES
OPPORTUNITIES & FUTURE DIRECTION
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New travel landscape with peer to peer
OPPORTUNITIES AND FUTURE DIRECTION
Search engines
and
meta search
Consumers
Social media
and review
websites
Affiliate
websites
Online travel agents
High street travel agents
Travel
companies
websites
Travel
Brands
Peer
to
Peer
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Mobile technology crucial to
expansion of sharing
Wearables as mainstream
Apple Pay to take mobile
payments to the masses
Future technology facilitates sharing
OPPORTUNITIES AND FUTURE DIRECTION
Sharing
brand
Ancillary
services
Technology
Payments
Competitors
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Link travellers
with locals eg
Vayable
Challenge of
going global
Tours &
activities
Private rentals
on OTAs eg
Expedia &
HomeAway
Partnerships
with sharing
brands
Carrier
partnerships for
pre-loaded apps
Corporates
Low barriers to
entry
Traditional B&Bs
use sharing
platforms
Independents
Opportunities to explore
OPPORTUNITIES AND FUTURE DIRECTION
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Airbnb and Uber launched dedicated business websites
FlightCar first sharing brand signed with GDS (Worldspan)
Concur integrated Uber & Airbnb into TripIt
Business travel – the next frontier
OPPORTUNITIES AND FUTURE DIRECTION
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1 billion users
worldwide, P2P
huge potential
2014 launch of local
services marketplace to
build up local services
Pioneer
eBay has the
potential to offer
room rentals
Apple Pay mobile
payments drive will
boost P2P
Future entrants to the sharing economy: Who’s next?
OPPORTUNITIES AND FUTURE DIRECTION
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Best of both
worlds
Driven by Generation Y
Align with industry standards & regulation
Legislation
likely to change
City authorities to re-examine legislation
Bans but not always enforced
Travel brands
on board
Adopt sharing principles
Launch sharing brand
Partner with sharing brands
Post-peer landscape
OPPORTUNITIES AND FUTURE DIRECTION
17. THANK YOU FOR LISTENING
Caroline Bremner
Head of Travel
caroline.bremner@euromonitor.com
www.euromonitor.com
Report for download: http://bit.ly/ITB-EMIreport
@carolinebremner @euromonitor
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