About 2 in 3 Luxembourg residents believe participating in the sharing economy would help them save money but the same amount of respondents to the survey do not like that others use their property, which constitutes a clear entry barrier. Nevertheless, 22% of respondents believe that their participation in the sharing economy will increase in the future, up from 20% of respondents in 2015.

The readiness of Luxembourg residents to share or borrow goods differs greatly in some cases, as can be seen in the infographic. While more than half of respondents are ready to borrow a car or clothes, barely 1 in 10 is ready to share those items.

Maybe one of the reasons why the sharing economy has not yet taken off in Luxembourg the way it has in other European countries is the potential income that can be derived. The European average of income from the sharing economy in 2016 lies at €1,595, with Italy leading the charge at more than €3,000 while Luxembourg lags behind with only €556.

Since 2015 the number of respondents declaring they know what the sharing economy is has gone up to 30% from 24%. As initiatives develop in Luxembourg, this figure will too.