As it is still in the infancy stages, there is precious little data available about the size of the passion economy. But an article on the creator economy notes that this segment of the passion economy currently has over 50 million participants worldwide, including independent content creators, curators, and influencers.
Since the creator economy is only a part of the passion economy, it is believed the overall number of workers in the latter is much larger than that figure.
In terms of monetary value, the passion economy is quickly becoming a force to be reckoned with. In fact, this economy was estimated to be worth $38 billion at the end of 2019, according to the digital community platform, Disciple Media.
And although no new data has since been published, the growth in market size can reasonably be estimated to be exponential between then and now, considering the rising success of dozens of passion economy-based platforms.
Back to the World Economic Forum, the entity has pointed out that the passion economy was becoming mainstream and would drive 85% of the new types of jobs that would be around by 2030, but don’t yet exist in 2022.
Moreover, a significant portion of the 400 million jobs lost during the COVID-19 pandemic is expected to remain unfilled due to people turning to entrepreneurial pursuits.