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The 'Feast or Famine' Lifestyle of Giggers in Gig Economy

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Abstract

"One result of the pandemic may be that even though we will undoubtedly lose many in-person businesses, we may have a more robust on- and off-line landscape of experiences and businesses available after the pandemic", shares a University of Illinois-based research. The gig economy, whose projected growth is around $2.7 trillion by 2025, has clearly facilitated the expansion of micro-entrepreneurship opportunities since sharing platforms contribute to the overall economy as a new source of employment while opening up previously un-tapped sources of income. The emergence of peer-to-peer business models has empowered countless individuals across the globe to earn money through sharing their under-utilised assets. The Gig or Sharing economy initially claimed to be able to redefine white-collar jobs and transformed the way we perceive the very existence of professional service firms. For example, why would you need to outsource a data analytics firm for a project when you have easy and quick access to experts, connected by a digital platform with global reach.
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