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The Shared Economy in the Czech Republic in 2017 and Resulting Problems in Short-Term Housing Rentals

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  • Petr Makovský

    (Czech Technical University in Prague, The Masaryk Institute of Advanced Studies)

Abstract

In the article we present a pilot study about most prominent problem of the shared economy – the increase in short-term housing rentals (through the Airbnb platform) and its impact on original accommodation services. We observe many advantages and disadvantages resulting from applications of shared economy. Traditional producers are afraid of the new “online” non-regulated competition. Many others highlight the positive economic effects such as the elimination of transaction costs and the appearance of a new economic sector (in contrast with the negative effects of the contemporary crises). We empirically tested the relationship between traditional producers and new online shared accommodation producers (Airbnb). Moreover we provide an analysis of the traditional accommodation services producers within the segments. These segments are Guesthouses, Hotel*, Hotel**, Hotel*** and “Prague stayed overnight.” We verified the enormous growth of short-term housing rentals (the most prominent shared economy topic). Nowadays, additional problems are appearing, for example Uber taxi services in competition with original taxi providers.

Suggested Citation

  • Petr Makovský, 2017. "The Shared Economy in the Czech Republic in 2017 and Resulting Problems in Short-Term Housing Rentals," ACTA VSFS, University of Finance and Administration, vol. 11(2), pages 144-159.
    • Handle: RePEc:prf:journl:v:11:y:2017:i:2:p:144-159
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    File URL: https://www.vsfs.cz/periodika/acta-2017-2-03.pdf
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    References listed on IDEAS

    as
    1. Juho Hamari & Mimmi Sjöklint & Antti Ukkonen, 2016. "The sharing economy: Why people participate in collaborative consumption," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 67(9), pages 2047-2059, September.
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    More about this item

    Keywords

    short-term rentals; regulation; transaction costs; Airbnb;
    All these keywords.

    JEL classification:

    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

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