Vietnam Shows Signs Of Expansion In Coworking Spaces
Vietnam is one of the many countries that have experienced a rise in coworking spaces and recent reports have seemed to confirm this news as well. According to reports, the total number of venues in Vietnam grew by 55% every year for five years. This means that there has been a massive growth in coworking spaces in Vietnam, which is a part of Asia.
Since Asia has seen a rapid rise in coworking spaces, Vietnam is no different and is following suit. The concept of coworking spaces has been there for a long time. It has increased in growth and popularity during the last few years but has seemed to catch up in Vietnam rapidly.
A report by CBRE Vietnam, a real estate firm, revealed, that there are a total of 34 coworking spaces in both Ho Chi Minh City and Hanoi, which is a 62% increase if we compare it from the last year. Moreover, the report also says that the total number of coworking spaces in Vietnam grew by 55%. At the moment in Vietnam, major operators such as Dreamplex, Circo, Toong and UP have expanded at an increasing rate and the number of small operators are also emerging in the country. The stats reveal that the growth in big and small coworking spaces in Vietnam is noteworthy.
With the high growth in Vietnam, international firms are also being attracted in the country to invest. For instance, The Hive, which is a coworking space master based in Hong Kong, has already revealed plans of opening their new facility in Ho Chi Minh City. The company already has their office in Xuan Thuay road located on District 2.
Moreover, similar to The Hive, the Naked Hub is also a well known coworking business based in China and even they are planning to enter the market by opening brand new facilities in Ho Chi Minh City and the other one in Hanoi. The second location is expected to open by the 2nd quarter of the year.
Coworking spaces have become a popular choice because they allow greater flexibility than usual offices and are generally the first choice amongst young people. It is also a known fact that 54% of the total coworking spaces in Hanoi and the Ho Chi Minh City are founded by the employees of start up companies or their founders. Most of the reports of coworking spaces have reported a healthy, 75-80% occupancy rate in these spaces.
The coworking spaces in Asia have increased by in large and each venue hosts about 73 members on average. There has also been an increase in coworking spaces worldwide and during recent years as well. From 2015, the total number of coworking spaces increased from 8900 to 15,500 last year, which is a very prominent and obvious rise.
As the freelance and start up culture continues to grow, the demand for coworking spaces continues to rise across the globe especially in Asia.