A region of the world that was historically renowned for sharing and trading goods and services without a medium of exchange now suffers one of the highest consumption (or I should say, over-consumption) rates in the world. It also has one of the largest carbon footprints in the world; Gulf states rank 1st, 4th, 6th and 8th for carbon dioxide emission per capita. It makes sense for countries where oil is cheap, yet this makes the region ripe for disruption by a sharing economy.
Take driving in Saudi Arabia, for example. Saudi Arabia is the largest economy in the Arab world, with a population of well over 27 million, the 12th largest land area in the world, and no public transport infrastructure aside from limited train services between major cities. Almost all households have one or more personal automobiles, and the majority travel with less than three passengers, typically for limited daily trips.
This creates a prime opportunity; a sharing service would decrease traffic, lower the country’s carbon footprint, and save its customers money.
The possibilities here are endless; anything from book-sharing to exchanging old cell phone devices for new electronics offers an opportunity for collaborative consumption in the Gulf. Imagine a world where you wake up, carpool with neighbors to work, exchange old text books for The Startup Owner’s Manual, rent out your GoPro mini cam that you rarely use and trade that grey sweater you bought but never really liked for a new hip summer t-shirt. It can be done. In Arabia.
Check out the full story on Wamda.
