The future of co-working space in 2021

It has been almost a year since the lockdown was enforced by the government. Various businesses operating outside the sector of the basic need were left with no choice but to halt operations or worse, close their business. People are getting the hang of the new safety protocols and gradually, some establishments are now allowed to operate as long as they observe the necessary protocols to avoid virus transmission. Some offices are reopening, some public spaces are getting more crowded, life is slowly returning to normal. This led us to question the future of coworking spaces this 2021.  

They say coworking is the future of workspaces as people are more inclined to the idea of working in areas outside the limits of the company building. The coworking industry began in 2005 and since then has seen huge increases every year.  In London, New York and Chicago flexible working spaces are expanding at a staggering annual rate of over 20%. 

Now that freelancing is a popular option and a career choice for many, there is even more focus on Shared working spaces. A recent study shows that 41% of all co-working space members are freelancers,  36% are employees, 16% are employers and 7% are students. 

With gradual opening and preparation of the economy to the post-covid era, what does the future hold for co-working spaces in 2021. One of the trends expected after the drop in 2020, is occupancy rates will stabilize and gradually increase. Such as London where occupancy levels have remained fairly robust despite decreasing demand since April 2020. 

And of course, as people are being more cautious regarding their hygiene, Open-style office layouts will become increasingly outmoded where there is enough spacing and touch-free surfaces.

The pandemic has taught many individuals to reshape their way of living and while that may be true, still, they need a place to work where they feel inspired and have the technology and resources they need to be productive. This isn’t always the case in a work from home set-up. 

The Co-Working space will bounce back, as long as it remains safe and secure.