IMPLICATIONS OF THE COVID-19 CRISIS FOR THE SHARING ECONOMY IN TOURISM: THE CASE OF AIRBNB IN THE CZECH REPUBLIC

Abstract

The concept of the sharing economy is spreading all over the world. From car rides to home sharing to tool rentals, the sharing economy offers all this and much more. Its business models are mediated through digital platforms that allow for a more accurate real-time measurement of spare capacities and can dynamically connect these capacities to those who need them; an example of such platform is Airbnb. Currently, international tourism has been completely paralyzed, and tourists around the world have been canceling their reservations. As of mid-March 2020, this applies to all customers worldwide. Property owners thus lost their sources of income for the coming weeks and the effects have been especially harsh for landlords using the Airbnb portal. In Czech Republic, most landlords using the Airbnb platform are in Bratislava, where less than a thousand properties are on offer. In other cities, the rental offer is more restricted. This research paper examinesthe impact of Covid-19 on occupancy of vacation rentals offered via Airbnb, by comparing and analyzing the expected and actual numbers of guests. The introduction outlines the theoretical approaches to the sharing economy and the way the Airbnb platform works. In the methodology section, a one-way ANOVA is described and applied. The results are followed by comparison of expectations and reality, discussion, and conclusions.