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Forecasting the Future of Coworking Spaces

Image by jdpereiro from Pixabay

The growth of the coworking industry is steadily increasing, and may be a goldmine for remote workers. For the past decade, there have been no signs of this industry slowing down, and as it continues to grow, there are going to be changes. In this post, we are going to share some forecasts on the future of coworking spaces, and what these changes may mean for you. 

Increase of Coworking Space Investors

Following the lockdown measures brought about by the COVID-19 pandemic, many people are hunkered down at home. Some have taken up digital working to make ends meet, which has led to the rise of remote workers in many industries.

According to a 2020 Global Coworking Growth Study, around 5 million people will be working from coworking spaces by 2024, a 158% growth compared to 2020. There has been an increase in the number of coworkers, and this allows several investors to build additional spaces to meet the increasing demand.

For this reason, we believe that the future will see the growth of coworking spaces, offering a unique environment for coworkers. In fact, some of these coworking spaces, like Novel Coworking, will offer state-of-the-art amenities and a more conducive working space, which are rarely seen in private offices.

Top Companies Are Using Coworking Spaces

In the coming years, we are likely to see top business organizations being flexible, allowing their employees to have memberships at coworking spaces. These spaces will enable the employees to work in their place of their preference at any day.

This will be a move made by organizations to help employees maintain a healthy work-life balance. In addition, there is a growing need to improve social interaction and a supportive community for overall happiness, which was highlighted by the coronavirus pandemic.

Making this move will allow business organizations to reduce costs associated with renting a traditional office space. Money saved can be channeled into other areas of the business, and. using coworking spaces will allow them to tap into any talent and technology that they may not have in their companies.

Businesses also see coworking spaces as an avenue to boost creativity and productivity. They are designed to inspire creativity, and there are many other talented coworkers to meet and learn from. Businesses may rent coworking spaces for employees to improve productivity and encourage a better work-life balance.

Endnote

Coworking spaces are bound to experience significant change, especially as the ramifications from the COVID-19 pandemic continue to unfold. The demand for these spaces is likely going to increase, and there are going to be adjustments to accommodate for this. Regardless of the outcome, one thing is certain; the future is bright for the industry.