According to CBRE’s Asia Pacific Future of Office Survey, business sentiment across Asia Pacific has improved as pandemic-related restrictions loosen up.
The survey showed that 71% of respondents agree that business conditions are improving, with Greater China and the Pacific being the most optimistic and India and Southeast Asia feeling less optimistic.
However, the unpredictable nature of infection rates will continue to have an impact on recovery in the region.
“While the average office utilisation rate in APAC slightly improved to 49% in May, the pace of returning to the office across the region varies and is expected to fluctuate regardless of the economic recovery,” the report stated. “Markets in Greater China had the highest office utilisation in May, whereas office utilisation in Southeast Asia and India has decreased since the previous survey due to the reintroduction of restrictions on office capacity.”
The report added that office use is anticipated to fluctuate depending on the increase or decrease of infection rates in certain regions.
Because of this massive uncertainty, around 47% respondents have become supportive of hybrid work models, meaning companies will need to make their own adjustments to accommodate this style of working.
However, the report notes that hybrid working will likely see more popularity in Western regions, with many Asian companies expecting their employees to work in the office for the majority of the time in the future.