BEIJING - The gig economy is on the rise—and shows no signs of slowing down anytime soon. An estimated 9.2 million Americans will work in the gig economy by 2021, up from 3.8 million in 2016, according to combined research from Intuit and Emergent Research. The more than 200 percent increase presents a significant opportunity for marketplaces, both in the US and beyond. Gig economy startups, ecommerce marketplaces, and social selling companies are looking for new ways to extend their reach globally and better accommodate this growing segment of consumers.
The 2018 Marketplace Expansion Index helps them do just that.
Hyperwallet, a leading global payouts provider to millions of independent workers, conducted a macro-level analysis of 209 different countries across a wide range of metrics. A closer look at the data then enabled Hyperwallet analysts to narrow the field to just 55 countries of interest.
Finally, analysts used a set of four key expansion readiness categories on a scale of one to 10 (infrastructure, workforce, ecommerce activity, and foreign competition)—along with 10 sub-parameters on a scale of one to 100—to help cap the Index at the top 36 countries and assign each country to one of three tiers: Established (countries 1-12), Emerging (countries 13-24), and Evolving (countries 25-36). Digital marketplace platforms can use the Index to better inform their expansion decisions. (Agencies)