People Using Coworking Space Expected To Hit 2.45mil In 2021
GLOBAL – A research by Ezra, a provider of digital coaching services, projects that the number of people using coworking spaces across the globe would increase by 26.8 percent to over 2.45 million by the end of 2021 from more than 1.93 million last year, reported Yahoo! Finance on Wednesday evening (19 May, SGT).
At the same time, the number of coworking centres across the world is forecasted to rise 21.2 percent from 19,422 in 2020 to 23,548 this year.
Come 2022, the number of coworking spaces is expected to grow to 28,552, while the number of users is estimated to hit more than 3.1 million.
By 2025, the former is expected to surge to 50,895, up 207 percent from just 16,599 in 2018. As for the number of users, it is projected to increase to 6.3 million, representing a 207 percent growth from the 1.65 million recorded in 2018.
Notably, the number of coworking centres and users are forecasted to respectively grow by 21.3 percent and 26.8 percent per annum from 2022 to 2025, using data from www.coworkingresources.org.
At present, the US has the highest number of coworking centres at 3,762 with a combined area of 27.49 million sq ft. It is followed by India (2,197 / 16.05 million sq ft) and the UK (1,044 / 7.6 million sq ft).
“Coworking spaces have become incredibly popular in recent years as they not only provide flexibility and affordability, but also a fresh business culture focussed on accessibility and collaboration. Of course, the pandemic will have caused many to swap their shared workspace for a home office for the short term, but this popularity is expected to keep growing as the world reopens and the way we work continues to evolve,” said Ezra’s Founder Nick Goldberg.
“America is very much the nation leading this workplace revolution with by far the most coworking spaces and the number of those opting to use them. However, this is a trend we’re seeing emerge on a global scale and one that we expect will continue to gain momentum,” he added.
Meanwhile, Hong Kong made it to the top 20 with its current figures, but it only has 255 coworking outlets with a total area of 1.86 million sq ft. Nonetheless, the Chinese territory has the highest level of coworking spaces in relation to its overall workforce at 0.58 percent.
This is followed by Portugal (0.49 percent), Spain (0.41 percent), Australia (0.39 percent), Canada (0.28 percent) and the UK (0.24 percent). Comparatively, the coworking spaces in the US can only accommodate 0.21 percent of its total workforce.