MANAGING in the

NEW WORLD

The sharing economy has impacted across the board but its greatest imprint can be found in the travel and tourism industry. Airbnb and Uber are the best examples who have disrupted the market. The former has around 650,000 rooms across 192 countries in the world and just to demonstrate the scale, it took Hilton 93 years to reach 610,000 rooms. This has severely impacted tourism jobs with calls for greater regulation being experienced in several markets. While these players have grown exponentially, there is a cause for caution due to impending regulations. Also in certain cultures, travel is often seen as a status symbol and that is where some of the traditional players have an advantage.

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