Coworking is a powerful trend that’s reshaping the global workforce. In fact, it might just be the 4th Industrial Revolution.
Want proof? Take a look at this roundup of fresh coworking statistics for 2019 and beyond.
1- It’s a global phenomenon.
About 1,000 new coworking spaces opened around the world last year.
2- We’re more than a million strong in the U.S.
By 2022 there will be 1 million people coworking in the U.S. alone.
3- There are 5 million+ coworkers worldwide.
By 2022 there will be 5.1 million people co-working around the world. Actually, it may be far more due to coworking booms in England, India, and the Asia-Pacific region.
4- It’s hot and staying hot.
Coworking space is in high demand but available square footage is also growing by leaps and bounds. Growth is expected to double, year after year, between now and 2022.
5- It’s a big chunk of the Big Apple.
Here’s a pretty impressive coworking statistic for the biggest city in the U.S.: 10% of all office space leases in New York City are now for coworking.
6- It’s getting bigger than Starbucks and Walmart.
Coworking is already bigger than Walmart. By 2020, coworking as an industry will have more locations than Starbucks, and almost as many as McDonald’s.
7- It helps startups control costs.
Some economic experts call coworking the #1 way for startups to manage cash flow for location-related expenses.
8- It’s a diverse and hard-working community.
About 40% of coworkers are freelancers, independently employed, or are in the process of creating startups. The other 60% are small business owners, corporate employees, and highly-educated professionals like lawyers and health care workers.
9- We repeat: Coworking is not just for startups.
Coworking has a reputation as a solution for startups, but it attracts plenty of seasoned businesses. 38 percent have been in business three to five years and 28 percent have been in business for more than 10 years.
10- It’s a healthy choice.
Fully 70% of people feel healthier after switching to coworking and 60 percent say they feel more relaxed in their non-work life. Now those are some impressive statistics.
11- It makes you feel motivated.
Coworking spaces can be very inspiring. 84 percent of people who use coworking spaces say they feel more engaged and motivated than they used to.
12- Women are gaining interest in coworking.
In 2017, 44 percent of coworkers were women; by the end of 2019, that figure is projected to be 50%.
13- It skews young.
78 percent of people in coworking communities are under age 40. However, some experts are predicting a second wave of coworking interest among older professionals – people who might have been wary at first, but have been reassured by the success of the coworking community.
14- Coworking helps you make money.
50 percent of coworkers say they now have higher incomes than before they were coworking.
15- People who cowork are actively hiring.
Here’s something a lot of people don’t realize about coworking: it’s a place to find a new job. 75% of businesses and 33 percent of individuals at coworking communities plan to add more employees within one year.
What do you think of these statistics? Pretty exciting, eh?
At Victory Workspace, we’re proud to be part of the booming coworking trend. To join the coworking movement, contact us today.
Leave a Reply