Development of sharing economy-based business models in the tourism sector

Abstract

The sharing economy is rapidly gaining popularity, especially in the tourism sector. The sharing economy transforms functioning business models, giving businesses new economic activities and development opportunities. However, while sharing economy-based models are spreading in the world, not only the advantages but also the disadvantages are seen. This paper summarizes the arguments within the scientific discussion on the economic characteristics of sharing economy. It identifies the actions determining the development of sharing economy in the tourism sector. Since it is known that the sharing economy is developing rapidly, the development of the sharing economy is usually analyzed as a whole, regardless of the different sectors. However, the development of the sharing economy in the tourism sector is found to be the fastest. Besides, there is the largest number of stakeholders. Systematization of scientific treatises and approaches concerning the investigated issue indicated that the main drivers for the sharing economy development in the tourism sector are the Internet and technology among tourists, the cyclical nature of the economy, the change of societal values, and environmental friendliness. The methodological base of this research was secondary data analysis. The research empirically confirmed and theoretically proved that the sharing economy in the tourism sector develops rapidly, attracts more and more consumers in the tourism sector, and outpaces traditional business models. The obtained results could be used for analyzing the most favorable conditions to develop new business models in the market, analyze the response of market participants (consumers and traditional business model), promote new business initiatives in the tourism sector, research the sharing economy phenomenon in narrower tourism (transport, entertainment, and tourist information platforms).