The Coworking trend is on a rise as you all know. Global Coworking Survey 2017 was conducted and the results resonate the same. Check out what has been found:
1. The Coworking Market is expected to grow by a further 41% in 2017.
The graphs show how Coworking has grown exponentially over the last few years. While the number of Coworking Spaces in the World have grown from 1,130 in 2011 to 11,300 in 2016 and expected to grow to 13,800 in the year 2017. The annual growth rate is also expected to stay at 41% in 2017.
2. Word of Mouth drives maximum People to the Coworking Spaces
According to the survey, Word of mouth is the largest stakeholder for them to discover a coworking space followed by Internet search, their clients/companies, social media and then online/offline media.
3. More and more coworking spaces are becoming profitable each year.
It has been established that Coworking spaces is indeed a profitable business model. As per our interview with Yatin K Thakur of CoworkIn, it is a win-win for all stakeholders. 41% of the Coworking spaces are expected to become profitable in 2017 against 36% in 2016.
4. Community Building is the top reason why members are attracted towards Coworking Spaces
Most Coworking spaces attract new members through online social media activities and Community building. Prospective members get attracted by the whole community setup of a Coworking Space as displayed online and offline both.
5. As high as 71% members collaborate with each other at the Coworking Space
Coworking’s spine is collaboration and inclusive growth. The survey shows that 71% of members collaborated with other members. Out of these, 76% were for small tasks while 42% were for partnering on a project and 27% Coworking members collaborated for a contracted project. The job ecosystem is also being created in Coworking spaces with coworking spaces receiving job requests for their members from non-members.
The Global Coworking Survey 2017 reflects some good times ahead for the Coworking industry. What do you all think? Is coworking going to grow or decline? Share your views in comments!