" The Gig Economy - a market system in which temporary positions are common, workers act as freelancers, and organizations hire independent workers for short-term commitments "
The 2007-2009 economic Great Recession gave impetus to the "gig economy" - with companies like Uber emerging from it. In 2019, the gig economy was $1.5 Trillion and was projected to more than double in 2023
However, the pandemic has further accelerated the gig economy by around 30%
The gig economy in East Africa is booming, it reached $40Bn in 2019 Around 1Mn workers work as digital freelancers.
Freelancing gives worker many benefits - e.g.:
- Supplemental income
- Reduced risk of relying on one employer
- Flexibility (work from anywhere/anytime)
- Growing own network
- Continuous learning
- A sense of control
- Being "own boss"
- Greater fulfillment