The Impact of the Sharing Economy as an Ecosystem on the Tourism Sector

Abstract

The authors of the article investigated the sharing economy elements as an ecosystem and analyzed the advantages and disadvantages of the sharing economy in the tourism sector. Exploring the elements of the sharing economy's ecosystem can help identify the challenges of globalization and lead to exploiting the sharing economy's potential more efficiently in the tourism sector. The study of the impact of the sharing economy as an ecosystem on the tourism sector is also made relevant by the lack of research examining the advantages and disadvantages of sharing economy models. To determine the impact of the sharing economy on the tourism sector, the authors analyzed the scientific literature. An empirical study of business models based on the sharing economy in the tourism sector was carried out. Moreover, the advantages and disadvantages were identified of the sharing economy in the tourism sector. The authors' analysis has shown that, despite conflicting views on the impact and importance of the sharing economy in the tourism sector, many experts are optimistic about sharing economy-based models in this sector. Research by the authors of the article shows that sharing economy-based businesses are superior to traditional business models. The sharing economy-based models are preeminent because of more affordable prices for tourists, better satisfaction of individual needs, opportunities to become part of the community, a more comprehensive range of services, better access to tourism services. A better quality of services also highlights the advantages of economy-based businesses. Although the study was conducted in the Lithuanian tourism sector, we can assume that the study data can be unified and applied to analyze similar markets in other countries.