Millennials in many countries don't have the purchasing power that their parents did, but they do want unique experiences and convenience - hence the value of Airbnb, Uber and Lyft is $106bn, which is more than the GDP of Morocco.
Companies in this region are also entering the space. RentSher is an online marketplace for renting event equipment, and intends to branch out into other areas such as camping gear and much more besides. There are also local companies such as Designer24, which rents out designer clothes, and car companies that rent out supercars for the weekend.
In this edition of Inside AB, Jeremy Lawrence and Lubna Hamdan discuss the reasons behind this growing trend and predict what might come next for the market.
(Source: Arabianbusiness.com YouTube channel)