INFOGRAPHIC DETAILED FINDINGS DOCUMENT PRESS RELEASE
The Travel Technology Association and the Internet Association jointly released a nationwide survey on December 3, 2015 focusing on American’s attitudes toward and engagement in the peer-to-peer, or sharing economy.
Analysis of the results revealed that peer-to-peer platforms are more vital to American travelers and consumers than ever before and that the millions who utilize these platforms are not users of siloed tools but members of a broader culture.
The continuous growth and widespread popularity of these platforms is undeniable:
• 1 in 2 Americans report engaging the peer-to-peer economy in 2015 (46%), up 144% from 19% as reported by PricewaterhouseCoopers in December 2014.
• 1 in 4 report engaging short-term rental platforms (23%), up 277% from 6%.
• 1 in 4 report engaging ridesharing platforms (28%), up 249% from 8%.
“The rapid growth of sharing economy platforms is a testament to the unique power of the Internet and innovation to better the lives of individuals and grow our economy,” said Internet Association President and CEO Michael Beckerman
Whether booking on HomeAway, Airbnb, and Flipkey or riding with Uber, Lyft, and Sidecar, users are not only flocking to but also deriving immense value from peer-to-peer solutions.
“Unlike other emerging technologies, growth in the peer-to-peer sector is spread across demographics,” says Travel Tech President Steve Shur, “for instance, short-term renting isn’t just for Millennials. We found usage to be distributed evenly across ages.”
This value is seen by even non-users:
• 1 in 4 Americans (26%) that report never having engaged short-term rental say they would be less inclined to visit a city if the alternative were unavailable.
• This number increases by 127 percent after one stay, jumping to nearly 2 in 3 previous short-term rental guests.
As more and more Americans engage with, find value in, and ultimately return to these peer-to-peer platforms, it’s imperative that local, state, and federal policymakers recognize the incredible value this dynamic industry brings to travelers and communities large and small, urban and rural.
• Most rideshare passengers (70%) and short-term rental guests (65%) believe local and state lawmakers should ensure that short-term/vacation rentals continue to be a travel option for American consumers by legalizing and smartly regulating the activity (65%)
The peer-to-peer industry is committed to working together with lawmakers on smart public policy that embraces innovation and makes American communities stronger.
This survey was conducted online from November 23 to 24, 2015 by SurveyMonkey among a national sample of 1,017 adults aged 18 and over. Respondents for this survey were selected from the nearly three million people who take surveys on the SurveyMonkey platform each day. Data for this survey have been weighted for age, gender, household income, region, and device type using U.S. Census Bureau data to reflect the demographic composition of the United States. The margin of error is +/-3 percentage points with a confidence rate of 95 percent.