Flexible workspaces on the rise and set to break industry records
Flexible workspaces on the rise and set to break industry records

Flexible workspaces on the rise and set to break industry records

Flexible workspaces have rapidly increased over the past few years and latest forecasts reveal that this trend is set to continue.

This way of working has already reached record levels; last year alone, almost 2,200 of these flexible workspaces opened – in itself, this is a record for one year.

By the end of last year, the number of coworking spaces worldwide was at 16,599; this though is on track to rise markedly, with the forecast for the end of the year expected to be just shy of 18,287 flexible workspaces.

Spaces in which to work like these are opening with increasing regularity; although the year-on-year growth of these spaces eased to 9.5% at the end of last year compared with 15.2% in 2018, there were the aforementioned record numbers of spaces opened last year, and two of the world’s major cities are seeing this trend increase.

In London, a flexible workspace is opening every five days whilst for New York, this figure is just over a week.

This year, the opening of flexible workspaces is predicted to fall by 22% compared to last year, chiefly because operators are focusing on increasing occupancy and profitability rather than wholesale expansion.

However, forecasts still suggest that flexible spaces worldwide will soon cross the 20,000 mark and by 2022, are forecast to reach 25,968.

This is a huge 56% rise from 2018 and represents more than 2,500 new spaces each year since 2015.

Richard Smith, CEO, believes these spaces accelerate productivity and envisages the market will continue to grow.

He said: “Today’s flexible workspace provides a habitat that supports staff wellness, staff welfare, helping companies become happy and productive places of work.

“As a result, the flexible workspace industry has attracted large corporations, enterprise companies.

“The market continues to evolve and thrive. By 2030, up to 30% of office space occupied by the corporate sector is expected to be flexible workspace.”

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