What is the Gig Economy, what is the Passion Economy, and how are they different? Well, If you’ve ever ordered an Uber, you’ve participated in the Gig Economy. And, if you’ve ever paid for an online course on a hobby or interest, you’ve contributed to the Passion Economy. They’re both booming and, backed by innovative digital platforms, are opening the door for millions looking to make more money or to forge a career doing what they love. But there are clear differences in the Passion Economy vs Gig Economy showdown.
The COVID-19 pandemic breathed new life into the Gig economy sector, and it hasn’t looked back since. As the efficiency and access afforded by new gig technology platforms have enabled companies to find workers, so have they allowed people to earn additional income or leave their old jobs altogether.
The Passion Economy has emerged as an ecosystem where micro-entrepreneurs and innovative creators are able to monetize their uniqueness and creativity, package them and tap into the tremendous potential of niche markets. The passion industry offers alternative ways to generate revenue, a more fulfilling and satisfying work-life balance, and give people the chance to pursue their dreams – all while making money.
As new and exciting novel business models and digital platforms emerge to support the growth of these economies, people around the world are scrambling to take advantage of them.
Gig or Passion? It’s up to you.