The Gig economy is a broad term for the online freelance workforce that has gown significantly over recent years.
“The gig economy is rewriting the way people live and work, making travel an integrated part of their lifestyle. And tectonic power shifts from West to East are remapping the centres of influence and the world's mobility. These are some of the megatrends outlined in a new report from the World Travel and Tourism Council called "World, Transformed: Megatrends and their implications for Travel & Tourism."
The Gig economy has revolutionised nearly all aspects of our lives – it has changed how we eat, how we travel and how we buy. Uber and Lyft’s disruption of the taxi industry being an obvious example. In addition online marketplaces such as AirBNB often fall under the wider scope of the gig economy. Similarly the changes in the car rental industry with the introduction of companies such as Zipcar which allow hourly rentals radically changes how we think about booking trips.
With an estimated 25% of US and EU classified as independent workers, lifestyles are becoming less tethered to office desks in a 9-5 environment. This can bring challenges and drawbacks for GIG workers who may not have the comfort of a sustainable contract and similarly it can have drawbacks for the companies concerned with lack of consistency of the workforce. What is certain is that GIG technology is driving change and the GIG economy rests on the principles of accessibility, proximity and affordability.