Worldwide Coworking Space Footprint Expected To Hit 20,000 Soon
By the end of 2018, the number of coworking spaces worldwide was 16,599, despite the rate of year-on-year growth having slowed down to 9.5% from 15.2% of 2018.
In 2019, new coworking space openings are expected to drop by around 22% as operators focus on increasing their occupancy over wholesale expansion.
Last year saw more corporate clients seeking out flexible office space, which likely has contributed to the massive boom the industry is experiencing. In fact, research predicts that by 2022, 60% of workers within flexible spaces will likely be apart of large organizations.
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“Today’s flexible workspace provides a habitat that supports staff wellness, staff welfare, helping companies become happy and productive places of work,” said Richard Smith, CEO of Office Freedom, a global flexible workspace brokerage.
Looking forward, Smith predicts that the market will experience more consolidation from large office providers.
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