Define finance collaborative8/16/2023 The national distribution is broadly in line with revenues. The collaborative economy provides work for approximately 395,000 people active across the EU, representing about 0.15% of EU employment (Figure 4). The finance sector (crowd-lending and crowd-equity funding) accounts for the largest proportion of revenues, followed by accommodation. A handful of international platforms account for around 40% of total revenues the remainder is spread between many small platforms operating domestically. On a national basis, the size of the collaborative economy ranged from 0.9% of GDP in Estonia to 0.04% of GDP in Belgium. The revenues (gross output) of the collaborative economy was estimated to be 0.17% of EU GDP (Figures 2 and 3). Nearly 700 collaborative platforms were identified in the EU. In spite of these assumptions and associated risks, we consider that the methodology delivers realistic country/sector economic estimates. Finally, the adjustment of revenues by GDP per capita may not entirely reflect price differences for sector-specific collaborative economy services. Also, the reliability of the revenue/usage ratios is partly dependent on the survey response rate, which was approximately 11%. Statistically, there a risk that the collaborative economy universe may be incomplete or over-specified due to the interpretation of the definition. (Empirically, the proportion of professional providers seems to increase with platform growth, in some cases becoming significant.) International platform revenues are allocated to a single country based on URL code.7 This assumption is weaker when applied to international platforms that provide a market place for tradable services, as these might not be provided in the same country as the platform is located. Whilst only platforms with an important share of peer-to-peer providers were selected, all revenues of selected platforms were taken into account due to insufficient information to separate out professional providers. The methodology relies on a few heroic assumptions. Vi) Estimate full-time equivalent employment based on turnover per person employed for relevant services sectors. V) Calculate provider revenues (country, sector) from average commission of platforms. Adjust extrapolated platform revenues by GDP per capita of platform country of operation/EU GDP per capita. Apply revenue/usage coefficient to platforms that did not respond to survey. Adjust platform revenues by EU GDP per capita/GDP per capita of platform country of operation. Iv) Based on survey responses, calculate ratios of revenue/usage for each sector. Iii) In parallel, collect usage data on each platform.6 I) Establish the population of collaborative economy platforms by applying the above definition. We estimate revenues and employment4 in the collaborative economy in four sectors at country level: transport, accommodation, finance, and online skills (on-demand household services, on-demand professional services) based on the following approach:5 This definition captures the rapidly growing platforms that have entered sectors such as transport and accommodation but excludes other parts of the platform economy, for example e-commerce and social networking. Collaborative economy transactions do not involve a change of ownership (European Commission 2016a). We define the collaborative economy as activities facilitated by digital platforms that create an open marketplace for the temporary usage of goods or services provided by private individuals. The darker the ward, the higher the number. Note: Heat maps of the number of hotels, Airbnb houses, and Airbnb rooms in each London ward.
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