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The Sharing Economy: Headed to Cuba?

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COLLABORATIVE ECONOMY
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There’s no denying it, the sharing economy is expanding rapidly, spreading across continents into international countries, and shaking up the ways of traditional businesses.  In an article by Dennis B. Keohane (@DBKeohane), he discusses how the sharing economy has now reached Cuba, and the outcome? 2,000 listings in 40 days, the rental giant that is Airbnb now has the fastest growing market in Cuba.

The Sharing Economy: Headed to Cuba?
There’s no denying it, the sharing economy is expanding rapidly, spreading across continents into international countries, and shaking up the ways of traditional businesses.  In an article by Dennis B. Keohane (@DBKeohane), he discusses how the sharing economy has now reached Cuba, and the outcome? 2,000 listings in 40 days, the rental giant that is Airbnb now has the fastest growing market in Cuba.

airbnb

"A little over a month ago, Airbnb started operations in Cuba by adding 1,000 homes to its rental platform on the island, one of the largest operations by a U.S. technology business in the country since President Obama announced plans to lift restrictions on U.S. business and travel to the island. Today, chief executive Brian Chesky announced that the company now has 2,000 properties listed in Cuba which, according to the CEO in an interview with Bloomberg Television, is the startup’s fastest-growing market yet.”

In the early 90’s, Cubans were granted permission to become self-employed, leading to the opening of “Casas Particulares,” traditional bed and breakfasts. With this infrastructure already in place, the transition to Airbnb’s sharing platform was simple.

Just like that, Cubans operating these “Casas Particulares” are now micro-entrepreneurs.

With the addition of Cuba to Airbnb’s listings, a number of positive outcomes could result from this. A deeper sense of community between foreigners and Cubans, a stronger relationship between the recent reconciliation of Cubans and Americans, and direct economic growth for Cubans away from government control. Airbnb has truly set up a win-win scenario at the right place and the right time.

We believe, with this new add-on to the sharing economy, the possibilities are endless. The sharing economy has taken off, and it’s reaching unbelievable heights. What was once an unsought idea of traveling to Cuba as an American, is now an intriguing and exciting idea. What better way to experience Cuba than through the lens of a local, and what better way to connect communities from around the world than through one’s home.

 

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