What is the Gig Economy?
Ever wondered what links Airbnb hosts, personal tutors, and dog walkers? They are all part of the so-called “gig economy.” If you’ve ever taken an Uber ride or bought something from Etsy, you’ve also participated in this economy. Read on to learn how such trends are changing the way people work and live.
According to the USA’s Internal Revenue Service, the gig economy is one in which a workforce of people earn income by providing services or goods on a freelance basis, rather than through full-time jobs.
This type of economy is not new; some people have engaged in freelance work and “side-hustles” for long periods by pursuing self-employment. But the practice is rapidly gaining popularity, due to advances in technology and the rise of ride-hailing apps like Uber, food delivery apps like DoorDash, and property hosting platforms like Airbnb.
