THE SUCCESS OF AIRBNB
IN THE MODERN DAY ECONOMY
Conclusion
As discussed within this report, Airbnb can be considered a strong example of a world-wide internet based business that features aspects of the Digital Economy, Attention Economy and Sharing Economy. Airbnb is very individual in both what it offers and how it operates. Airbnb is not only known for their ease-of-use and user-experience through their mobile application and website, but it is also known for its reduced transaction costs, resource allocation and utilisation, and community development. Airbnb successfully utilises the economies to build a robust, independent and successful business model that tops its competitors Home and Away and Tripadvisor in more ways that one. However, the development and success of Airbnb over the years has also seriously harmed the sharing economy by focusing on a monetary gain. In doing this Airbnb has unfortunately caused a divide in the hospitality industry, essentially Airbnb has created a rift in the functionality and sustainability of the economy, defeating this sharing economy. Airbnb has also had a decrease in privacy due to it being an internet based business. Effectively, Airbnb has changed the travel industry for both hosts and travellers utilising the Airbnb website. Airbnb has integrated and used modern economic trends to build an internet-based business that has become successful worldwide. Without the internet and the economy, Airbnb would not be as successful as it is today on a global spectrum.
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