sharing economy


Definition of sharing economy

: economic activity that involves individuals buying or selling usually temporary access to goods or services especially as arranged through an online company or organization Arguably the biggest sector of the sharing economy is travel. People are renting their beds to out-of-towners (Airbnb and Couchsurfer), leading them on guided tours (Vayable and CanaryHop) and hosting meals (Voulez Vous Diner and EatWith), sometimes for free but on most sites for a price—though one far below those found at local hotels.— Eliana Dockterman

Examples of sharing economy in a Sentence

Recent Examples on the Web Guest reviews go both ways in a sharing economy, and that's especially true in travel. Christopher Elliott, USA TODAY, 13 May 2022 Even leaving aside the impacts of the pandemic, the company sees the home-to-home concept as a natural extension of the sharing economy. David Prosser, Forbes, 3 Nov. 2021 Dipierro noted that the notion of renting a swimming pool online by the hour or day is an extension of the cost-sharing economy, which also includes the short-term rental phenomenon. John Benson, cleveland, 18 Nov. 2021 León seized on an informal raitero ride-sharing economy that thrived in farmworker communities long before Uber was even a thing. Los Angeles Times, 10 Jan. 2022 PwC, a global accounting and consulting firm, projected the sharing economy would grow to a $335 billion industry by 2025. Leia Larsen, The Salt Lake Tribune, 24 Dec. 2021 The sharing economy has changed how people look at many types of purchases, including real estate. Daniel Kodsi, Forbes, 4 Oct. 2021 At the same time, the Treasury is contemplating changing the way VAT is charged on sharing economy services. Philip Salter, Forbes, 21 Dec. 2021 And while booking travel through the sharing economy is becoming increasingly popular, vacationers are experiencing situations where vacation home and RV rental owners have ghosted them. cleveland, 7 Nov. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'sharing economy.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of sharing economy

2007, in the meaning defined above

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The first known use of sharing economy was in 2007

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Statistics for sharing economy

Last Updated

1 Jun 2022

Cite this Entry

“Sharing economy.” Dictionary, Merriam-Webster, Accessed 1 Jul. 2022.

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