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Infographic: How The Sharing Economy Is Taking Over

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The cost of living is rising, and the middle class is feeling the pinch. This has led to a sharp decrease in spending on luxuries like vacations. The average vacation spend is just under $,2000, too far out of reach when the cost of living is outpacing wage growth by 14%.

To make up for the middle-class squeeze, the sharing economy is helping Americans, as well as people all over the world, rent their extra rooms for additional income and use their cars to drive others around for extra money. On the flip side, the sharing economy is also making those little luxuries more affordable—Uber Technologies Inc (NYSE: UBER) and Lyft Inc (NASDAQ: LYFT) have undercut taxis, and Airbnb's are often cheaper than hotels.

The graphic below shows how the sharing economy has come to dominate our society.

Sharing Economy

 

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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