Growth of Sharing Economy in Hungary; Long Distance Car Sharing - A Case Study of Oszkár

Abstract

Rapid growth of sharing economy in the last two decades is the outcome of a paradigm shift in global capitalism and societal values. Based on digital identity and the Trust and Reputation Index, IT platforms have brought together strangers who under new social construct, share under-utilized capacities and assets with those who need them. Radius of trust which was initially confined to family and friends; now encompasses strangers who speak no common language and who live oceans apart. Hungary is no exception to this global shift. Sharing economy in Hungary has registered healthy growth specially in the areas of transportation and accommodation. Oszkár, a long-distance car-sharing company presents a good example of this paradigm shift in societal values and sharing with strangers. This platform has recorded impressive growth of over 67% between 2015-2018 with very positive customer reviews. Moreover, this represents an environmentally-friendly sustainable practice which successfully reduces carbon foot-print and traffic congestion.