The number of people working in coworking spaces worldwide is predicted to grow to 2.26 million in 2020 – almost 128 times higher than the 21,000 workers in 2010.

Coworking

Coworking is where a group of workers, usually from different companies, share a common workspace. This workspace is generally rented from a third-party on a short-term basis, generally monthly with the third-party providing most of the office infrastructure. The practice is especially popular amongst freelancers or people who work from home, who may want access to a more social environment for only a few days a week.

Global distribution

With the exception of the U.K., coworking spaces worldwide are distributed relatively evenly amongst major economies, with the largest single market being in the Asia Pacific region. However, the coworking market is probably better analyzed at the city level rather than the national level. The densest distribution of coworking spaces is found in cities that are large, associated with the digital and creative industries and which have relatively high real estate costs. This suggests a reason why the U.K. has such an oversized share of coworking spaces relative to size – because London scores highly on all these criteria.