Ride-hailing drivers in South Africa, India, and Argentina are facing significant challenges due to rising fuel costs and inflation. Many drivers have protested against the exploitative practices of ride-hailing platforms, demanding fair wages. However, despite minor concessions from companies like Uber and Bolt, the benefits have been negated by the substantial increase in fuel prices. This has left drivers struggling to make ends meet, with some considering selling their cars. The gig economy workforce, which is vulnerable to price shocks and inflation, is in a precarious position as they bear the costs individually while companies outsource expenses. The impact of inflation may lead gig workers to leave the economy altogether, resulting in a decline in available services and a potential moment of reckoning for unprofitable gig economy companies.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Ride-hailing drivers protest unfair treatment | From exploited workers to fairer treatment | Improved wages and working conditions | Rising costs and inflation |
| Rising fuel prices affect ride-hailing workers | From affordable fuel to expensive fuel | Increased costs and financial struggles | Increase in the cost of fuel |
| Gig economy workers globally face inflation crisis | From stable incomes to financial insecurity | Struggling to make ends meet | Rising food and fuel prices |
| Gig workers absorb costs, face living crisis | From shared costs to individual burden | Increased financial strain | Cost-of-living crisis and outsourcing costs |
| Delivery drivers struggle with rising fuel prices | From manageable profits to reduced earnings | Lower income and financial difficulties | Rising fuel and living costs |
| Restaurants face rising prices and falling demand | From profitable business to financial challenges | Difficulty turning a profit on delivery platforms | High fees and inflation |
| Gig economy companies face precarious position | From expansion to financial vulnerability | Potential mergers or closures | Lack of profitability and unsustainable model |