Side hustle statistics this year show a rising interest in flexible earning opportunities, among people of virtually all ages and backgrounds. Facing a complex economy, lower wages, and a higher cost of living, more professionals are beginning to discover the benefits of side hustles for themselves.
But a side hustle isn’t just a phenomenal way to earn some extra income.
The right side hustle can offer creatives and professionals a new way to explore their passions, expand their skills, and even take more control over their career.
If you’re thinking of starting a side hustle in 2023, it’s worth checking out the latest side hustle statistics below, for an insight into how the economy looks right now.
What is a Side Hustle?
Before we dive into our list of enlightening side hustle statistics, it’s worth taking a moment to define what side hustling actually is. There are still plenty of people who confuse side hustles with part-time or secondary jobs. However, while, like a second job, side hustles can increase your income, they come with a lot more control and flexibility than traditional employment.
Side hustles are essentially small businesses, run by professionals who want to increase their income, working in the creator economy, gig economy, or digital world. Side hustles give professionals a new way to increase their income and job stability, while allowing them to pursue their passions.
The concept is particularly popular among younger generations, with up to 76% of Gen Z professionals saying they have a side hustle, and 62% of millennials saying the same.
The Popularity of Side Hustles in 2023
The studies show that side hustles have never been more popular. Around the world, professionals are looking at side hustles to increase their income, and unlock new opportunities in a digital world. As the economy continues to struggle, there’s a good chance side hustles will continue to grow.
In Australia, around 6.6% of the population now hold…
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