How unsafe is the sharing economy?
The rise of the sharing economy has been unavoidable globally.
Not to scare you, but the whole phenomenon has just about taken over our everyday lives.
Just ask yourself when the last time was you booked a taxi instead of Uber as an example.
The likes of Airbnb and other holiday rental start-ups have surged in popularity in recent years because of the affordability and interest in homestyle travelling.
But what are travellers giving up when they opt for the sharing economy option?
According to new data released by general insurer IAG, it seems Aussie holidaymakers have been faced with their fair share of strife when choosing homes over hotels.
Speaking to more than 1,000 Australians, the study revealed that overall, we’ve definitely encountered some issues.
It found that:
- More than 1 in 6 (17 per cent) have accidentally broken something or damaged their accommodation while on a holiday
- One in 7 (14 per cent) have been injured or seen a fellow guest injured, and
- One in 5 (19 per cent) have hosted a party or been to a party at a holiday rental property.
The research also found that young men (aged 18-34) are more likely to cause damage, injure themselves or host a party while on holiday in a holiday rental property.
For example:
- Men are more likely than women (24 per cent vs 17 per cent) to have accidentally broken something in an Airbnb
- Men are more likely than women to have hosted or been to a party in an Airbnb and Stayz property (35 per cent vs 19 per cent)
- Men are also more likely to have injured themselves in an Airbnb than women (18 per cent vs 13 per cent)
In November last year, a Morgan Stanley research study found that the novelty of Airbnb may be wearing off, as popularity was waning.
In the third AlphaWise survey of its kind, Morgan Stanley found the popularity of the home sharing startup was diminishing, as Airbnb use in consumers grew by only 3.3 per cent in 2017.
While it still showed growth, the number had almost halved since 2016, which experienced a 7.9 per cent growth year-on-year.
The survey measured the responses of 4000 consumers from the UK, US, France and Germany, however, discluded Australasia and Latin America.
While the numbers were still promising for Airbnb, and counting in the fact that only around two-thirds of global consumers were surveyed, the industry speculated the service might be plateauing.
IAG developed product ShareCover seeks to aide Aussies with incurred expenses through
ShareCover (an IAG developed product) spokesperson Mitchell Sweeney said the research findings show that people who rent their property out on Airbnb this summer need to understand the potential risks involved.
“Holiday rental sites such as Airbnb and Stayz have given people the freedom and opportunity to maximise the use of their assets and earn some extra cash,” said Sweeney.
“However, these opportunities don’t come without risk and it’s important that people protect themselves, and their most important assets, when they rent their home with holiday rental platforms,” he added.
Also, check out five of the quirkiest holiday rental property claims according to ShareCover data:
- A frozen chicken broke a kitchen sink after being dropped
- 14 circular burn marks (cause unknown) were found on the carpet of a property
- One guest fell through a flight of stairs causing personal injury
- A brawl after a party caused extensive damage throughout a property
- Guests lighting sparklers that dropped onto floor causing burn to floorboards
Email the Travel Weekly team at traveldesk@travelweekly.com.au
airbnb iag sharecover sharing economy Travel UberLatest News
Two thirds of Australians support introduction of tourism tax, survey reveals
Can you guess which generation was the most outraged at the news? Hint: It is exactly who you think!
“The consumer really just wanted more classic reward availability” – customers underwhelmed by Qantas FF shakeup
All this consumer wants is to sit behind someone that doesn't push their seat back to near-horizontal levels.
Aussie travellers warned of ‘significant’ visa shifts in destinations including Chile, US and Vietnam
To be honest are biggest advice for having a layover in the US, is just don't.
Profile: Delta CEO Ed Bastian
Bastian says the airline business isn't for the faint hearted. We're sure Alan Joyce would agree!
Final Call: Travel DAZE Exec early birds are about to expire
Much like the auctioneer at the hottest sale of the year, we're giving you one more chance to jump at this deal!
Forget the weekend! Experience Gold Coast launches mid-week travel campaign
Your boss might be a bit bothered if you jet off mid-week, but you'll be the envy of all of your Instagram followers.
Victorian Tourism Industry Council warns of losing tourism dollars to NSW & QLD
Trendy cafe's hidden in CBD laneways can only get so many tourism dollars, clearly!
AIME 2024 rustles up $330m for APAC economy
This figure is a 65 per cent increase on 2023, much alike The Nibbler staff's alcohol consumption.
Amex GBT to purchase CWT for $871m
It's big deals like this that get a firm handshake - hence the sore hands over at the CWT and Amex GBT offices.
Boeing cleanout: CEO, chair to go as safety crisis plagues the manufacturer
CEOs are falling thick and fast these days. We should have started up a bingo game with their headshots in the office.
Star boss resigns, admits retaining NSW casino licence unlikely under his leadership
The CEO resigned after 18 months in the role. 'Another one bites the dust' rumoured to be heard playing in Pyrmont.
Corporate Traveller swings amateur golfers around the globe for World Golf Competition
How're your golf skills? Consider yourself a Tiger Woods or often get quadruple bogeys? We take after the latter.
Corporate travellers to spend big on Melbourne F1 despite financial pressures
Part of the attraction is sick days after the event as corporate travellers suffer creaked necks and blown eardrums.
Bonza officially kicks off Gold Coast-Darwin route
The Flying Purple Thumb is back at it with another route. We swear, we're going to make this nickname stick!
South West Sydney Tourism launches Western Sydney Tourism Awards
Penrith's 3 consecutive NRL premierships wasn't enough? The people of Western Sydney could fill the trophy cabinet more!
Hotels vs. Airbnb: Industry leaders at odds over who should pay accommodation levy
There's not as much gore in the Hotels vs. Airbnb saga as there is in Alien vs. Predator, but it's just as thrilling!
Singapore Airlines revamps premium economy with new menu, amenity kit
Felt Singapore Airlines was lacking "the sauce" (as the kids say). Bolster belief in the carrier's je na sais quoi here.
Business Events Adelaide set for 20th Destination SA event
Destination SA turns 20! Hopefully it's not celebrated with vodka cruisers and vapes like most 20th birthdays.
Boeing’s woes delay massive Virgin Australia order
This delay means Virgin staffers will be without that new plane smell, inspiring us to sell it in a can.
All the winners from the 2023 Qantas Australian Tourism Awards
Somehow missed this news recently? Good thing you're subscribed to our fabulous newsletter!
Corporate international travel from Brisbane up 30% YOY: Flight Centre
Queenslanders seem keen to go somewhere that actually serves good beer! Sorry, we actually like Great Northern.
Amora Brisbane undergoes $30m remodelling, geared up for MICE offerings
When $30m goes into an amazing hotel to get it geared up for MICE offerings, that's amore!
Corporate Travel Management’s CEO Laura Ruffles steps down
CTM confirmed that Ruffles will be stepping down due to a personal health issue, effective immediately.
Qatar Airways crowned World’s Best MICE Airline at World MICE Awards
You could say Qatar Airways really 'nabbed the cheese' with this one! Alright, we'll see ourselves out...
Qantas, Jetstar & Virgin hike airfares as supplier costs inflate
Supplier increases means you'll pay more. It's like pass the parcel, but instead of getting a present, you owe money.
NSW Central Coast wins global sustainability award for promoting ecotourism at ITB
NSW Central Coast jumped the gun on St. Patricks Day and got the green celebrations going early!
PHOTOS: RuPaul’s Drag Race stars hit Kings Canyon for Priscilla’s 30th anniversary
The stars have renamed the iconic spot 'Queens Canyon'. No name change to the adjacent 'Priscilla's Crack', however.
Air NZ to suspend Auckland-Chicago route amid aircraft troubles
Sorry Kiwis, your craving for authentic deep dish pizza will go unsatiated (or you could just fly with another airline).
Tasmanian Premier promises to build the world’s largest chocolate fountain if re-elected
If only sticky 6-year-old children could vote. Then the Tassie Premier would be guaranteed a victory!
The staggering amount invested in 2022/23 Australian tourism projects revealed!
Any guesses on how much it was? We'll give you a hint: It's between $1 and $9 trillion (hope this helps).
Marriott’s Bonvoy Lounge makes it a 5-peat at Formula 1 in Melbourne
If Formula 1 is so good, then why isn't there a Formula 2? Oh there is one... Never mind.
Virgin Australia posts $236m profit, but the outgoing CEO warns of turbulence ahead
Hrdlicka warns of tough times ahead, just after announcing she's leaving. We wonder if there could be a connection!
Ascott opens new 255 room property in Central Sydney
Bored of your bedroom and want 255 new ones to try? The new Ascott property is here to solve this very specific problem!
Work and play at the Radisson RED, Auckland
We aren't going to tell you what order to work and play in, just that you should be looking to do both at Radisson Red.
Swiftonomics 101: Just how much did fans spend travelling to see Taylor Swift?
Thought you'd heard the last of Swift, huh? Not in your Wildest Dreams could Swiftomania go out of Style!
Rex posts a $13.3m turnaround for 1H24, but still at a loss
Rex is slowly making its way back to pre-pandemic form. Much like us with our sporadic attempts at exercise.