Covid-19 impacting sharing economy

TheStar Mon, Mar 30, 2020 08:00am - 4 years View Original


Malaysia’s courtship with AirBnB and similar platforms had its beginnings with the property binge, which started a decade ago when investors entered the market due to easy credit. Unable to rent, or sell at a price they want, many joined the sharing economy in order to help cover their monthly instalments instead of keeping the units empty.(Small toy figures are seen in front of diplayed Airbnb logo in this illustration taken March 19,2020. REUTERS)

PETALING JAYA: The novel coronavirus, or Covid-19, is not only making a mess of companies in the hotel and aviation sectors but is also upending members of the sharing economy.

Be it work or leisure, the virus is raising doubts about the sustainability of sharing spaces among strangers. Industry players have different views.

Over in the house-sharing space, things are coming to a head. An operator of more than 50 units of non-hotel shared accommodation in the city is throwing her hands in surrender as a result of Covid-19.

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