America Leads The Charge As 6.3M Estimated to Use CoWorking Spaces By 2025
London, UK
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May 19, 2021 08:20 AM Eastern Daylight Time
Research from Ezra, the leading provider of digital coaching, has estimated that by 2025, 6.3m of us will be working from a shared office space, with America already leading the workplace revolution.
Coworking has grown in popularity with providers such as WeWork providing greater flexibility and affordability on a global scale, to companies who might otherwise have been priced out of a city office space.
In the last year alone, the estimated number of worldwide coworking spaces has climbed by 21%, up 42% since 2018 alone. At the same time, demand has also remained robust, with the estimated number of people using a coworking space up by 27% since 2020 and 49% since 2018.
It’s predicted that despite the problems caused by Covid, the prominence of coworking spaces is due to climb at an annual rate of 21.3% a year. Ezra’s research shows that this would push the number of global coworking spaces to over 50,000 by 2025, a 207% increase in just 8 years. It would also mean a 284% increase in the number of us working in a shared workplace, with 6.3m predicted to be doing so by 2025.
America currently ranks as the world’s coworking hotspot, with an estimated 3,762 shared office spaces. Based on the average capacity of 83 people to an office, Ezra estimates that 312,246 Americans currently work within a shared office.
With the average coworking covering 7,308 square foot, that’s 27,492,696 sq ft of shared working space across the United States, again by far the most of any global nation.
Of course, America’s labour force is one of the largest in the world at 146m people, with just China and India home to a larger overall workforce. As a result, America’s current coworking setup could accommodate just 0.21% of its total labour force.
In this respect, Hong Kong is home to the highest level of coworking spaces with enough to currently accommodate 0.58% of the nation’s total workforce, with Portugal (0.49%), Spain (0.41%), Australia (0.39%), Canada (0.28%) and the UK (0.24%) also ranking ahead of the United States.
Founder of Ezra, Nick Goldberg, commented:
“Coworking spaces have become incredibly popular in recent years as they not only provide flexibility and affordability, but also a fresh business culture focussed on accessibility and collaboration. Of course, the pandemic will have caused many to swap their shared workspace for a home office for the short term, but this popularity is expected to keep growing as the world reopens and the way we work continues to evolve.
America is very much the nation leading this workplace revolution with by far the most coworking spaces and the number of those opting to use them. However, this is a trend we’re seeing emerge on a global scale and one that we expect will continue to gain momentum.”
Table shows the current estimated and forecast number of worldwide coworking spaces and users | ||||
Year | Estimated number of coworking spaces worldwide | Change (%) | Estimated number of people using coworking spaces worldwide | Change (%) |
2018 | 16,599 | N/A | 1,650,000 | N/A |
2019 | 18,287 | 10.20% | 1,806,750 | 9.50% |
2020 | 19,422 | 6.20% | 1,933,331 | 7.00% |
2021 | 23,548 | 21.20% | 2,450,980 | 26.80% |
2022 | 28,552 | 21.30% | 3,107,230 | 26.80% |
2023 | 34,619 | 21.20% | 3,939,191 | 26.80% |
2024 | 41,975 | 21.20% | 4,993,910 | 26.80% |
2025 | 50,895 | 21.30% | 6,331,030 | 26.80% |
2018 to 2021 | 6,949 | 42% | 800,980 | 49% |
2018 to 2025 | 34,296 | 207% | 4,681,030 | 284% |
Table shows the current estimated number of coworking spaces by nation, capacity, estimated square footage and percentage of labour force | |||||
Nation | Estimated number of coworking spaces | Estimated capacity n | Estimated size sq ft | Estimated labour force | Estimated capacity - % of labour force |
United States | 3,762 | 312,246 | 27,492,696 | 146,128,000 | 0.21% |
India | 2,197 | 182,351 | 16,055,676 | 521,900,000 | 0.03% |
United Kingdom | 1,044 | 86,652 | 7,629,552 | 35,412,000 | 0.24% |
Spain | 939 | 77,937 | 6,862,212 | 19,057,000 | 0.41% |
Germany | 791 | 65,653 | 5,780,628 | 44,585,000 | 0.15% |
Canada | 617 | 51,211 | 4,509,036 | 18,136,000 | 0.28% |
Australia | 590 | 48,970 | 4,311,720 | 12,568,000 | 0.39% |
Mexico | 508 | 42,164 | 3,712,464 | 50,914,000 | 0.08% |
Japan | 411 | 34,113 | 3,003,588 | 66,540,000 | 0.05% |
Brazil | 393 | 32,619 | 2,872,044 | 86,621,000 | 0.04% |
Philippines | 368 | 30,544 | 2,689,344 | 41,533,000 | 0.07% |
Malaysia | 364 | 30,212 | 2,660,112 | 15,139,000 | 0.20% |
France | 339 | 28,137 | 2,477,412 | 27,742,000 | 0.10% |
China | 304 | 25,232 | 2,221,632 | 774,710,000 | 0.00% |
Italy | 298 | 24,734 | 2,177,784 | 22,920,000 | 0.11% |
Indonesia | 290 | 24,070 | 2,119,320 | 129,366,000 | 0.02% |
Colombia | 282 | 23,406 | 2,060,856 | 19,309,000 | 0.12% |
Portugal | 280 | 23,240 | 2,046,240 | 4,717,000 | 0.49% |
Hong Kong (SAR China) | 255 | 21,165 | 1,863,540 | 3,627,000 | 0.58% |
Vietnam | 251 | 20,833 | 1,834,308 | 54,659,000 | 0.04% |
Sources | Capacity based on number x average capacity of 83 people | Capacity based on number x average size of 7,308 sq ft | Capacity / labour force | ||
Contact Details
Properganda
James Lockett
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