Coworking Spaces and Growth

When surveyed, it has been found that the number of coworking spaces worldwide has been growing rapidly, from 1,130 in 2001, 3,400 in 2013 and almost 8,000 in 2015. The number of members is growing similarly, going from 295,000 to 510,000 in just one year.

And the surveys show that coworking spaces are here to stay. The average coworking space is about 32 months old. Coworking spaces grow in members by about 15% per year and are largest and most popular in Asia.

Coworking Spaces and Community

Surveys tell us that approximately 90% of members believe they are at least somewhat a part of their coworking community. Fewer than 6% don’t feel connected to the community at all. As a part of the community, members typically expect:

  • Being able to talk casually and comfortably with other members
  • Sharing and receiving knowledge with other like-minded professionals
  • Feeling as though they enjoy the company of those around them
  • The growth of ideas
  • Networking for jobs and positions and sharing contacts
  • Being able to help each other, technically and emotionally

The community that coworking spaces foster lead to increased security and safety among members. 51% of members say they would feel comfortable leaving their phone unattended and not worrying about it getting stolen. 67% of members are on a first name basis with other members.

How Do Coworking Spaces Work?

The majority of coworking members enjoy working in an open workspace, a team office or an individual office, according to surveys. The number of people who work at a coworking space often (3+ times per week) has risen from 51% to 73% from 2014 to 2016. These frequent workers come every single day at a rate of 44%. Coworking spaces are not restrictive. 84% of members still work outside their coworking space.

When asked, members stated that the most important and valuable aspects of coworking to them were the flexibility as opposed to a regular office environment, the interaction they get from the coworking community, the low cost of marketing coworking spaces offer, a quiet place to work and the knowledge shared between members.

Coworking Space Locations

The majority of coworking spaces are between 21 and 50 years old. New buildings are not that popular for coworking spaces; only 9% of spaces are in buildings younger than 5 years old. Most coworking spaces are in commercial buildings. 49% of coworking locations had been vacant for six months or more before being converted into a coworking space.

The majority, 82%, lease their location for an average of 52 months. About a quarter of coworking spaces find themselves moving to a new location at least once in its lifetime.

Predictions About Coworking Spaces

Coworking spaces are doing nothing but growing. 35% of coworking spaces plan to move to another extra location and 27% plan to move to a larger location. Better yet, 61% of spaces say that they would be open to moving to an extra location, a larger location and add more desks and space to their current location.

79% of locations expect to increase in members this year. 74% expect to increase their inome and sense of community. 61% plan on having more coworking events to bring their communities closer.

Photo: Michiko Yazawa