Coworking has completely changed how we view the workplace. As younger generations have emerged as a big portion of the workforce, demand for a healthier work culture has led companies to rethink their office arrangements.
It is clear that the coworking industry will continue to evolve, but what does the future entail?
Although coworking will likely continue growing, consolidation is also on the horizon as unprofitable companies will have no option but to either merge or be bought out.
In order to remain competitive and stand out, coworking operators will need to offer unique services and amenities for members.
In 2020, it is expected that coworking will receive more funding from investors, which is necessary for these companies to thrive. To ensure increased funding into the sector, India’s government should allow banks to provide loans to coworking spaces.
Furthermore, space allocation to unused spaces in government buildings through a revenue-sharing agreement could solidify coworking as a staple in the commercial real estate sector, while helping boost the startup and entrepreneurial communities.
Overall, coworking in 2020 is looking bright in India and with a few changes in business model and services, it can become a mainstay work option for various industries.