Sharing Economy Companies Turning Virus Crisis into Opportunity

Economy

Tokyo, Nov. 16 (Jiji Press)--Sharing economy companies are exploring new opportunities after their businesses were severely hit by the novel coronavirus pandemic.

They are now looking to services that help people avoid in-person contact with others and thus lower the risk of contracting the virus.

Their small workforces with limited equipment and facilities allow them to exercise flexibility in their efforts to survive, observers said.

Companies that offer space-sharing services were particularly hard hit by the virus crisis.

U.S. private accommodation marketplace Airbnb Inc. had been popular among foreign tourists wanting to find “minpaku” lodging in Japan and pinned high hopes on demand during the 2020 Tokyo Olympic and Paralympic Games.

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Jiji Press