The shared economy is growing. Slovaks most use housing



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According to the European Commission, revenues from the shared economy in Slovakia reached almost 122 million euros in 2016.

Last year, 19% of Europeans used the shared economy. Most of the time they used shared accommodation, especially rooms, apartments, houses or cottages, ordering them through the web or applications.

According to the most recent data from the European Statistical Office, Eurostat mainly uses housing in Luxembourg (44%) or Irish and Maltese (both 26%).

Accommodation and transportation

"Slovaks are gradually changing to the Union average. Last year, up to 18% of Slovaks used shared accommodation at home or abroad. For example, we were ahead of the Czech Republic, where only 5% of people use this form of accommodation, "said Lenka Buchláková, an analyst at Slovenská sporiteľňa.

As in the Czech Republic, there are people in Cyprus (only 3% of people use shared accommodation, Lithuania (7%), Greece, Romania and Slovenia (all 8%) or Bulgaria (9%).

In the case of Slovakia, this is a slight year-on-year increase in interest in these forms of shared economy. Most of the time we use lodging and transportation.

"An example might be the Scandinavian countries where about a quarter of people work this way. This saves costs considerably. For us, this system is still crawling. Slovaks are mainly concerned that the accommodation offered by someone at home is sufficiently protected against possible complications. And this is in the form of cancellation of accommodation by the owner at the last minute, lower standard of accommodation and the like, "added Buchláková.

Reputation Systems

"But there's no need to worry about it. Individual platforms, whether to provide accommodation or transportation, have already established a reputation system, both by the provider and the customer. It is even guaranteed by various forms of insurance on both sides, "commented Buchláková.

For example, the RelayRiders platform, where people can rent their car or rent a foreign vehicle, offers insurance against damage to their passengers.

A shared economy is an important asset to the economy. By 2025, the economy is expected to boost global sales to $ 335 billion. According to the European Commission, revenues from the shared economy in Slovakia reached almost 122 million euros in 2016.

Since January last year, companies operating in the shared economy segment have been taxed. For example, Airbnb's hosting service should tax your revenue at a fee paid by a trader to a foreign company for using its platform.

It retains 19% or 35% of withholding tax, depending on the location of the actual beneficiary. In Slovakia, the shared economy is used as a source of revenue only to a minimum.

According to the latest estimates of the Financial Policy Institute of the Ministry of Finance, the share of the shared economy in Slovakia is less than 0.01% of gross domestic product.

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