Macroeconomic Factors Influencing the Development of the Sharing Economy in the Lithuanian Tourism Sector

Abstract

The sharing economy expands and becomes a significant part of tourism, contributing to economic development. The Lithuanian tourism sector is changing from an internal perspective and is influenced by various external macro-environment factors. Currently, as the tourism sector recovers, not only on a national but also international scale, to achieve rapid development of the tourism sector, and assess the importance of one of the biggest catalysts of the tourism sector - the sharing economy, the research aim is to determine the macroeconomic factors that have the influence on the sharing economy in the tourism sector, Lithuania. This research will help policymakers and other stakeholders to create conditions for the sharing economy in the tourism sector for future development and growth in Lithuania. The paper is carried out in the following logical order. First, the literature analysis identifies the macro-environment vectors that significantly impact the development of the sharing economy. The further analysis identifies specific parameters that, according to various literature reviews, influence sharing economy's development in the tourism sector. Further research is aimed at verifying coefficients of influential macroeconomic factors and impact directions by experts. The authors found a positive, most substantial medium-term relationship: between 21-49 years old population growth; increase in monthly income; higher education level of population; the number of households with children;  consumer confidence index. The results suggest that the growth of these and other analyzed parameters would have the most influence while encouraging sharing economy's development in the tourism sector. The authors also analyzed other political, economic, sociocultural, technological, environmental, and legal parameters.