OPPORTUNITIES AND CHALLENGES OF THE GIG ECONOMY IN SRI LANKA

Global statistics show that the gig economy offers the second-highest number of employment opportunities. In Sri Lanka, this concept is relatively new, with recent estimates indicating that less than 5% of the workforce engages in gig work. The gig economy can provide many opportunities not only for gig workers but also for the whole society. Studying this phenomenon in the Sri Lankan context is timely, as it has the potential to reshape employment structures, contribute to foreign exchange earnings, and create alternative livelihood options, particularly in the face of economic challenges and unemployment. On the other hand, gig workers have to face many challenges. The main objective of this study is to investigate the opportunities and challenges of the gig economy in Sri Lanka. Since this is a qualitative study, the researcher used inductivism. A purposive sample of eight gig workers was selected, which is justified as appropriate for an exploratory study. A qualitative survey was conducted by interviewing each interviewee in-depth. The researcher has found that gig workers in Sri Lanka gain different benefits, such as great flexibility and freedom, the ability to earn a higher amount of money than they would in traditional jobs, earnings are from foreign currencies, and educated people can also earn a higher income based on skills, and gig working is an alternative to traditional jobs. Although the gig economy provides different types of opportunities, it also comprises many challenges. In this study, the researcher has mainly focused on challenges rather than opportunities. The researcher identified common challenges in the gig economy, such as a lack of real human interaction, huge income fluctuations, and work-life imbalance. The researcher has identified that there are a few special challenges of the gig economy in Sri Lanka, such as technological difficulties, new tax policies, a lack of proper foreign currency withdrawal methods, and less appreciation by society.