What You Need To Know About Co-working Spaces

According to two management experts, co-working spaces is still premature to conclude that they are advantageous on the whole even though the social experiments were conducted a decade ago.

Chances are, you may already have tried out a co-working space. Today, most people would have heard of co-working spaces – shared offices that independent knowledge workers, start-ups, small businesses, and increasingly, corporate employees use.

According to investment management firm JLL, from 2014 to 2017, flexible workspaces, both co-working spaces and serviced offices, in Southeast Asia have shown a compound annual growth rate of around 40 percent. Compared to the United States with 25.7 percent and Europe with 21.6 percent, Southeast Asia’s growth rate is much higher over the same period.

The flexible co-working workspace market in Singapore is expected to grow 20 percent next year, according to Channel NewsAsia’s video which explored the co-working spaces growth trajectory. Along with Singapore, the other major cities across Southeast Asia including Bangkok, Jakarta, Manila, Hanoi, and Ho Minh City are also expected to see similar growth.

However, co-working, having to start as a social experiment in response to new ways of working such as telecommuting and freelancing, is believed to start losing its significance as it is now often being applied to a broader class of arrangements.

 

Read the full article here.