Over the last two decades, coworking spaces have taken over the world. Coworking offers a place where freelancers, consultants, start-ups, and large corporations can all work under the same roof. Many find that this sort of collaborative work environment is intellectually stimulating and helps them get more done.
As the American work culture becomes more and more flexible and entrepreneurial, coworking spaces will only become more popular. Here are some of the essential coworking statistics you need to know in 2021.
1. What are the world’s largest coworking companies?
- Impact Hub
- District Cowork
- Make Office
- Industrious Office
- Venture X
- Your Alley
- Serendipity Labs
- Green Desk
These companies have successfully built a network of coworking spaces by offering a unique experience to their customers. Their business models run the spectrum from small and boutique coworking spaces to franchised enterprises.
If you are interested in the coworking industry, pay attention to these companies. They will continue to drive the coworking industry into the future.
2. How many members does WeWork have?
WeWork is easily one of the largest coworking spaces in the world. Since its initial launch in 2010, WeWork has built a network of workspaces covering 127 cities and 33 countries, with plans to expand even further. This has allowed WeWork to amass over 609,000 members around the world.
WeWork Coworking Statistics:
- WeWork was initially launched in New York City.
- Now, WeWork has over 850 coworking locations.
- WeWork Labs – a digital platform aimed at early-stage startups – is available in over 100 locations worldwide.
- WeWork’s members include all types of entrepreneurs and companies. WeWork even caters to large multinational companies such as Microsoft, IBM, Amazon, and Airbnb.
- WeWork has also expanded into education, group living, and fitness.
How much does WeWork cost?
WeWork currently offers a variety of pricing options tailored to individuals as well as larger companies. WeWork offers a pay-as-you-go option, a monthly subscription, and long-term leases.
The average monthly price for one-person office space is between $300 and $600. The average cost for a WeWork space for a team is $939. However, pricing and availability for teams greater than one person depend on the location you are hoping to work from and the size of your team. WeWork offers competitive pricing compared to other office spaces in the market.
The types of office space available at WeWork include:
- A single, dedicated desk for one person
- Standard office space for a team of 1-20 people
- An office suite for 20-100 people
- A full-floor of office space for teams with more than 100 people
3. What are the best coworking spaces in the world?
WeWork is one of the most recognizable coworking spaces in the world, with over 850 locations. But, is it one of the best? Although WeWork offers a reliable and affordable coworking option, it has not ranked among the best in the world.
Some of the most popular coworking spaces from around the world include:
- The Work Project (Hong Kong)
- Agora Collective & Weserland (Berlin, Germany)
- Dojo & Hubud (Bali)
- NeueHouse Hollywood (Los Angeles, CA)
- Work & Co (Cape Town)
- Proximity Space (Montrose, CO)
- Coollabore (Itajaí, Brazil)
- Cogite in Les Berges du Lac (Tunisia)
- Betahaus (Sofia, Bulgaria)
- KAPTÁR (Budapest, Hungary)
- KoHub (Koh Lanta, Thailand)
- North Space (Toronto, Canada)
4. How many coworking spaces are in the United States?
In 2019, there were a total of 19,000 coworking spaces in the world. Only about 6,900 of those offices are located in the United States. Asia-Pacific remains the hot spot for coworking spaces with over 11,000 locations.
The total number is expected to increase to over 26,000 within the next five years. Luxembourg is the fastest growing country in the world in terms of coworking growth per capita. The United States currently ranks 8th.
6. Average coworking space size
The average size of a coworking space varies between countries and continents. North America has, by far, the largest average coworking space size. Average coworking spaces in North America are about 9,799 square feet and fit about 100 people.
- North America: 9,799 square feet and 100 people
- Asia: 8,101 square feet and 113 people
- Central America: 6,719 square feet and 59 people
- Africa: 6,312 square feet and 86 people
- Europe: 6,131 square feet and 61 people
- Oceania: 3,960 square feet and 83 people
- South America: 3,955 square feet and 53 people
7. How many companies use coworking spaces?
The number of companies that use coworking spaces continues to grow every year.. This doesn’t only include small or medium-sized businesses, large corporations are also taking advantage of the coworking trend including Airbnb and Amazon.
Small businesses, solo entrepreneurs, and freelancers continue to use coworking spaces the most. However, nearly 14% of employees at large companies are using coworking spaces on a regular basis. n the coming years, 40% of the growing demand for coworking spaces is expected to come from larger corporations. By 2022, it is estimated that over 13% of companies outside the United States will be using coworking spaces regularly.
8. How many coworking spaces are black-owned?
As of February 2, 2020, only 56 of the coworking spaces in the United States were owned by Black Americans. that number is continuing to grow. Black women are the fastest-growing group of entrepreneurs in the US. And as minority-owned businesses continue to grow generally, office spaces will be built by and tailored to those minority groups.
Some popular black-owned coworking spaces in the United States include Femology, The Gathering Spot, and La Create Space.
9. How many people use coworking spaces?
In 2019, there were over 3.1 million people using coworking spaces around the world. A 2019 report by the Global Coworking Unconference Conference estimated that by the end of the year 2022, that number would be over 6 million people. While millions of people continue to benefit from shared office space, the COVID pandemic has slowed the tremendous growth rate coworking spaces were experiencing.
10. Can coworking spaces be profitable?
Even thoughcoworking spaces felt the strong negative impacts of the COVID pandemic, many experts expect coworking spaces will thrive once things return to normal. Some estimate that the industry, as a whole, is worth more than $26 billion. As cities across the country continue to reopen, a growth of coworking spaces is sure to follow.
The world is moving towards a more remote work culture. Coworking spaces offer the perfect option for companies to still have a central headquarters and office space for interested employees while downsizing and cutting costs. Monthly payment options or short-term leases ensure that companies can maximize their rent budget.
Despite the uncertainty of the coworking business model, 72% of offices become profitable after only two years. With over 3 million people already using coworking spaces, and that number expected to double in the coming years, the coworking industry is sure to remain a profitable one.
- Coworking Resources: Largest Coworking Companies
- Tech Jury: WeWork Statistics
- Forbes: Best Coworking Spaces
- Entrepreneur: Membership Costs
- Fundera: Coworking Numbers
- Coworking Insights: State of Coworking
- AllWork.Space: Coworking Stats
- Coworking Resources: Black-Owned Coworking Spaces
- SmallBizGenius: Coworking Numbers
- DeskMag: How Profitable Are Coworking Spaces?