Australia’s “Sharing Economy” is averaging growth of 140% per year

The sharing economy (also known as the “collaborative economy”, “peer economy”, “access economy”, etc.) is a rapidly growing economic model based on ‘access to’ rather than ‘ownership of’ physical and human assets like time, space and skills. Examples include Airbnb (where people can list, discover and book accommodation) and Uber (the ridesharing app connecting riders to private cars). NAB’s own data suggests growth is averaging around 140% per year, but from a low base. While the most prominent sharing services are based around accommodation, transport & cars, the sharing economy is growing across a range of goods and services – everything from clothing exchanges to private driveways for car parking.

More from NAB:

• How Australian business views the sharing economy
• Global and Australian Forecasts – April 2016
• NAB Business