Uber Giant

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Uber, Airbnb, gig economy = $1 billion economic boost: Grattan Institute.

In a radical and important report, the Grattan Institute has found that the sharing economy could deliver a $1 billion-plus boom for the economy.
The report puts the benefits of ride sharing for drivers and customers at somewhere between $500 million to $1 billion. The impact of Airbnb and Staz will be somewhat less.
The report says: “Peer-to-peer platforms are building better markets. By cutting the costs of searching and transacting with strangers, they help make a more trusting and productive economy.

Taxi licences are falling with Uber already securing more than 20,000 drivers in Australia and capturing about 6 per cent of the taxi market

The report urges Victoria and Queensland to follow other states like New South Wales and legalise Uber and other ridesharing apps.

It has found that beachside suburbs such as Tamarama, Bondi, Bronte and Darlinghurst in Sydney have become Airbnb hotspots, It reveals that 8 per cent to 15 per cent of premises in those area are listed available for short stays.
It looks at the issue of people there complaining about the behaviour of those coming in for short term stays disrupting neighbours by staying up late and abusing swimming pools, foyers and gyms.
It recommends empowering councils and body corporates to slap higher fines and penalties on owners who fail to manage behaviour. As a last resort, short term stays would be banned.
On the gig economy, the report says there is “strong evidence that some people have benefited from platform-based work and little evidence of harm,”

“There is evidence that platforms are helping those on the fringes of the workforce – the young and inexperienced, the unemployed and the involuntarily retired – to start work or get back to work,’’ it says. .

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