Coworking as a New Trend

Coworking has now become a new trend over the traditional offices. Many people prefer to work in coworking spaces like freelancers, remote workers,startups, SMEs and many others. People are now ditching the traditional office thing as coworking is way better than the former. In coming years, coworking will see a high spike in its demand. 

The term ‘Coworking’ was coined by Bernard DeKoven in 1999 and in 2002 two Austrians opened an ‘Entrepreneurial Center’ in Schraubenfabrik, in an old factory in Vienna. Then finally in 2005, On August 9th, Brad Neuberg set up the first ever official coworking space namely, ‘San Francisco Coworking Space’ in San Francisco’s Mission district. 

Coworking has grown quickly over the past few decades. Currently, there are more than 5 million coworkers worldwide. According to studies, coworking office spaces are expected to grow at 13% every year. Globally, there are 20,000 coworking spaces worldwide by 2021 and this number is expected to increase to  5 million by 2024. According to studies, the USA was ranked number 1 in 2021 for the most number of coworking spaces globally, followed by India with 2197 spaces and the UK with 1044 spaces. 

Coworking Makes People Happier

Coworking makes people happier as they start feeling more social, productive and engaged. According to the survey done in 2018, 89% of coworkers report that they feel happier after joining the coworking and the 83% said that they feel less lonely. It feels good to work from the comfort of one’s home but sometimes people start feeling lonely which somehow affects their work. At coworking, you get to interact with a lot of people and like minded people also. So, it helps to cheer you up and make you feel happy.

Coworking Leads to Better Connections

At coworking spaces, many remote workers, freelancers and other professionals work under one roof. So, you get to connect with many other professionals. According to studies, 82% of coworkers say that their network has expanded since they have joined coworking and 51% say that it has helped them in finding new job opportunities. So, coworking also opens the doors to new opportunities.

Coworking Keeps You Motivated and Engaged

84% of coworkers feel motivated and engaged, 69% say that they have learnt new skills and 68% say that their existing skills have upgraded since they have joined coworking (GCUC Survey). So, joining a coworking office space will also help you in acquiring new skills and mastering your existing skills.

Coworking Demographics

37.93% of SMEs use coworking office spaces. Second comes the startups which comprises 27.12% of coworking members followed by freelancers which consists 16.61%. 7.68% are entrepreneurs, 5.49% are remote workers, 2.82% are digital remote employees and 2.35% are large-scale-corporations.

Is Coworking the Future?

Globally, the number of coworking spaces is expected to hit 41,975 by 2024. From the past few decades also, coworking has seen a drastic increase. These spaces are considered as one of the most fast-growing trends in the business world, especially after the global pandemic. Besides the basic business infrastructure, coworking spaces offer their members the opportunity for social interaction, work collaboration and networking.

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