The European Commission (EC) has issued a European agenda for the collaborative economy (Agenda). A clear point of view on sharing economy was essential in the wake of these new business models. This relatively new phenomenon provides the European Union (EU) with an opportunity to create more jobs, more economic value, and spur innovation. It is estimated that even though the sharing-economy now contributes only EUR 28 billion to the EU economy per year it can grow to up to EUR 572 billion per year. In order to use as much potential as possible, both the EU and its Member States have to implement a regulatory model that is flexible and applicable to different business models. The following analyzes key areas addressed by the EC in the Agenda.
Source: Lithuanian Free Market Institute