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Airbnb, Uber and Lyft combined worth more than Morocco’s GDP

July 19, 2017 at 11:53 am

In aiding and abetting this project, Airbnb is complicit in ongoing war crimes. Airbnb Office [FlickR]

Three top US companies are worth more combined than the national GDP of Morocco, new figures have shown.

The market value of online holiday home renting portal Airbnb, ride sharing services Uber and Lyft exceeded the GDP of Morocco in 2016 which, according to the International Monetary Fund, amounted to $103 billion, according to American magazine Condé Nast Traveler.

The market values of the three successful brands were $31 billion for Airbnb, $68 billion for Uber and $7.5 billion for Lyft, $106.5 billion in total.

Those numbers are far removed from those of Facebook and Google, whose market capitalisation amounts to $465 and $664 billion respectively, a little more than the GDP of Switzerland, according to the Huffington Post.

Over ten per cent of Morocco’s population are unemployed with figures reaching an all-time high of 15.10 per cent in the third quarter of 1999 and a record low of 7.80 per cent in the second quarter of 2006. Although the unemployment rate has declined over the past decade, youth unemployment is still twice that of the total population with university graduates worse off in finding work than those without diplomas.

Read: Morocco’s shocking statistics issue a stark warning