Question

What is the Global gig economy, what countries are involved and what are the economic advantages and disadvantages?

Answer 1

ANSWER-

Global Gig economy - A gig economy is an economy where traditional businesses hire freelancers and individual contracters. A gig economy provides opportunities to work part time and that to at the comfort of there place. The workers in gig economy are mostly hired online and through smartphones. Workers of gig economy enjoy's flexibility of work and can earn an extra income.

Countries involved in gig economy - Mostly developing countries are invloved in the gig economy like India, Pakistan, Bangladesh and philippines.

Advantages of gig economy -

There are many advantages of a gig economy like-

1.) Flexebility to work - The workers of a gig economy enjoy flexibility to work. In gig economy worker can work from home so they can focus on work as well as there families. They can work at the comfort of there place. The worker have big platform to choose what kind of work they want to do.

2.) Variety of work - A gig economy provided variety of jobs to do as it becomes a big platform when things are done online and more people have access to it. Having variety of jobs to do the worker to not get bored they fell interested as they can do many creative things.

3.) Independent workers - In gig economy the wokers work independently so one is there to intrupt them while they are working. They can work at whatever time they want to do it.

Disadvantages of gig economy

There are also disadvantages of working in a gig economy that are-

1.) less pay - The pay in gig economy is very less as the workers are dooing part time job in it and they don't have to go to office to do work so they are paid less.

2.) No additional benefits- While working ina gig economy a worker cannot get any additional benefits which he/she might get if they work in a office as a full time worker. They don't get any health realted benefit, any retirement benefits, any other offers. In gig economy they only get paid for the work they do no additional benefits.

3.) Can bring loneliness - The workers in gig economy may feel lonely as they are woking from home and there is no social interaction and a point will come that they might feel bored.

CONCLUSION - To conclude a gig economy is an economy where independent workers are hired or freelancers via internet or smartphone. these workers work from home and do part time job but having advantages of working in gig economy also have some disadvantages with it.