The Global Gig Economy: Opportunities and Challenges for Freelancers and Businesses

The gig economy has revamped work opportunities for the freelancers and the businesses that have seen a new change in the structure of labor markets. In this article, the author enlarges the possibilities related to furthering workers’ independence and work scale on digital platforms along with the drawbacks comprising of income fluctuation and the absence of legal rights for people performing work on such platforms. By reviewing literature in the area, it outlines the policy approaches that should be adopted to meet the flexibility for efficiency and fairness in economic growth for gig workers and firms. Solutions are related to increasing worker remuneration, constructing and defining legal rights and responsibilities, and training to secure better employment and long-term labor mobility.