2020 Global Coworking Growth Study

The 2020 Global Coworking Growth Study examined worldwide coworking supply, operator expansion plans, workspace size and capacity, geographic distribution, desk pricing and early changes in demand during the COVID-19 pandemic. Coworking Resources and Coworker projected that the number of coworking spaces would rise from almost 20,000 in 2020 to more than 40,000 by 2024, while the population working from these spaces would approach 5 million. The report compared major national markets and identified the United States, India and the United Kingdom as the countries with the largest reported inventories. It also presented regional differences in average workspace capacity and floor area, drawing on Coworker research and listings. Pricing analysis covered changes by region and ranked cities and countries by average monthly hot-desk prices in 2019–2020. Operator expansion data came from the 2019 Coworker Member’s Choice Awards and therefore reflected intentions recorded before COVID-19 disrupted the market. Finally, the study compared more than 3,000 workspace requests made between February and May 2020, reporting shifts toward private offices, longer contract terms and requests for more seats. Its forward-looking conclusions anticipated stronger demand from larger organisations decentralising their workforces.

Key findings

• The number of coworking spaces was projected to rise from almost 20,000 in 2020 to more than 40,000 by 2024, with annual growth of 21.3% from 2021 onward.
• Almost 5 million people were projected to work from coworking spaces by 2024, representing a 158% increase from 2020.
• The United States had more than 3,700 shared workspaces, followed by India with 2,197 and the United Kingdom with 1,044.

Published by Coworking Resources and Coworker, 2020