According to Coworker’s Coworking Size & Capacity Report, Asia is the continent with the highest average capacity of 114 people, compared to spaces in South America which held the lowest average capacity of 54 people. Within Asia, China ranked as the country with the largest capacity, with a whopping 282 people on average per space, which is more than twice the average capacity of spaces in the U.S. – which is 105 people.
In terms of space size though, North America has the largest spaces in the world, with an average size of 9,799 sq.ft. per space, followed by Asia at 8,101 sq.ft., while smaller spaces are more commonly found in Europe and South America.
As more corporate companies embrace flexible work practices, we can expect capacity to continue to grow overtime as serviced offices and remote teams will become increasingly important for space operators.
According to a survey conducted in May 2020, 56% of professionals in the U.S. expect to work remotely at least part time, and around 29% expect to work remotely on a full time basis. Such insights reflect not only how work practices are changing for individuals, but also how businesses are embracing working with small remote teams regardless of their location.
The United States is still leading as the biggest market with over 3,700 shared workspaces across the country, followed by India (2,197 spaces) and the United Kingdom (1,044 spaces). In terms of yearly growth in 2020, out of the largest markets, Germany and India are the two fastest-growing, followed by the United States and Canada.
The chart below shows the 20 largest markets by number of coworking spaces and the corresponding share over all spaces worldwide.
The global average price per desk dropped by 2.14% between 2019 and 2020, which illustrates the increasing supply of new flexible offices, as well as how higher competition is leading to even more affordable options for companies and professionals.
As the coworking industry goes mainstream, the downward trend in prices is reflected across different regions in the world. The only exception is Europe, where prices have increased by almost 12% over the past 2 years.
Based on Coworker listings, the top 15 cities with the most expensive average monthly hot desk prices include 8 American cities and 6 European cities.
When comparing the world’s most expensive cities for coworking, Palo Alto in California claimed the top spot in 2019-2020, with monthly hot desk prices of $511 on average. Zurich came in second place at $456 per month, with Santa Monica claiming third place at $404 per month. Interestingly, our data shed light on just how expensive real estate is in California — 8 of the state’s top cities were among the top 25 most expensive cities in the world.
In terms of country rankings, Monaco took the top spot in 2019-2020 for most expensive monthly hot desk price, coming in at $397 per month. Switzerland came in second place at $395 per month, and Malta is third with $347 per month.