Coworking Statistics You Need to Know in 2021

Coworking Statistics You Need to Know in 2021
ByIvan Stevanovic
January 06,2021

A hacker, a video game designer, an Austrian entrepreneur, a social media enthusiast, and a feminist all walk into a bar. And now the bar is a coworking space.

In reality, we can trace the evolution of coworking over a decade of development. So before we get into the nitty-gritty of coworking statistics, let’s take a brief look at the history of coworking itself.

1995

First, the hacker. It’s 1995 in Berlin, Germany, and 17 computer engineers have just created one of the first ever “hackerspaces”: c-base. This is a place to exchange ideas and codes, and to meet like-minded people.

1999

Fast forward a few years and video game designer Bernard DeKoven coins the term coworking, albeit referring to the way we work and not the space we work in. Coworking trends at this time are still focused around Europe.

2002

Two Austrian entrepreneurs set up the first true coworking workspace in the world. Situated in an old factory in Vienna, Schraubenfabrik houses a motley crew of freelancers, startups, consultants, and even architects. It’s a coworking hub in all but name.

2005

The name as it is used today was officially coined by a guy called Brad Neuberg, who set up the first official coworking space back in August of 2005. He did so by renting a space at a feminist collective called Spiral Muse in the Mission district of San Francisco. He was helped by Chris Messina, a guy best known for his invention of the much-loved (or hated?) Twitter hashtag. And just like that, coworking as we know it was born. Now let’s get down to some stats, shall we?

Key Coworking Statistics - Our Top Picks

  • There were nearly 19,000 coworking spaces worldwide in 2019.
  • There were more than 3 million coworkers globally in 2019.
  • With over 80 million square feet of flexible workspace, the US leads the global coworking market in terms of real estate.
  • With over 11,000 coworking spaces, the Asia-Pacific region is the world’s largest coworking region.
  • Freelancers are still the largest coworking demographic in the world.

General Coworking Industry Statistics

Let’s start with some general statistics so you can get a feel for the state of the coworking industry.

There were nearly 19,000 coworking spaces worldwide in 2019.

(Statista)

According to Statista’s coworking space worldwide statistics, there are currently around 18,700 coworking spaces around the globe. The number is growing daily and is expected to reach nearly 26,000 by 2025.

There were more than 30,000 flexible workspaces globally in 2019.

(GCUC)

Flexible workspaces are gaining popularity with both freelancers and enterprise companies. They are forecasted to nearly double their 2017 numbers (26,000) by 2022, when it’s expected there will be around 49,500 flexible workspaces. This is in large part due to a surge of new coworking spaces around the globe.

Global, the estimates put the market value of flexible workspaces at $26 billion.

(Allwork.Space)

There are more and more shared office space companies in the world. It’s becoming a major industry that’s attracting the big players in the corporate world.

There were more than 3 million coworkers globally in 2019.

(GCUC)

According to the GCUC global coworking report, there are currently 3.1 million coworkers in the world and the number is forecasted to nearly double by 2022. The largest growth is expected in the Asia-Pacific region.

65% of people working in coworking spaces are younger than 40.

(Deskmag)

The median age of coworkers as of 2017 is 35, up from 33.5 in 2012. Most people sharing a flexible working space are between 30 and 39 years old, but only 12% are over the age of 50. However, the median age is increasing slightly each year.

With more than 11,000 coworking spaces, the Asia-Pacific is the world’s largest coworking region.

(GCUC)

According to global coworking statistics there are 11,592 flexible workspaces in the Asia-Pacific region, followed by 6,850 in Europe, the Middle East, and Africa, while there are 6,293 in the US.

On average, there were 185 members per coworking space worldwide in 2019.

(Statista)

This steadily rising number shows that coworking office spaces are growing not only in number, but in size as well. With a growth rate of nearly 500% from 2012 to 2019, we can only predict that cowork spaces will continue to get larger and attract more workers in the future.

In total, the US has more than 80 million square feet of flexible workspace, making it the global leader in terms of coworking real estate.

(Coworking Resources)

Coworking space statistics indicate that USA leads the world in this segment, ahead of the UK with 60 million square feet. New York, or more specifically Manhattan, accounts for a large chunk of the industrial coworking space in the country.

Freelancers are still the largest coworking demographic in the world.

(Deskmag)

According to Deskmag’s research, the average coworking hub is still well-populated by freelancers, who account for around 41% of the workforce. However, coworking occupancy rates show that corporate workers come in close behind them, at 36%. This suggests that larger companies are making good use of shared working spaces, too.

The IT industry has the largest number of coworkers, followed by PR, marketing, and sales employees.

(Deskmag)

With 22%, IT professionals dominate the coworking workspace ahead of PR, marketing, and sales employees at 14% and consultants at 6%. We can also see that the IT industry is strengthening its lead, while there are now fewer consultants in shared work spaces than in previous years.

With 11% of the market share, Regus is the world’s largest coworking space operator.

(GCUC)

GCUC’s coworking infographic shows us two interesting trends: that Regus dominates the coworking space operator market, and that the top five shared office space companies in the world account for only 14% of the overall market coverage. This suggests that a large chunk of coworking spaces remain independently operated.

Women make up around 40% of the coworking workforce.

(Deskmag)

Industry coworking spaces are becoming increasingly popular among women. The previously male-dominated industry is becoming home to more and more women, mostly in the freelance sector (46%). If we look at global coworking survey statistics, the numbers show that across all fields women make up around 44% of coworking staff.

Coworking is growing in popularity outside of freelancers and startups.

(CNBC)

WeWork statistics show a 90% increase in the number of enterprise companies and a 360% increase in members from enterprise companies making use of WeWork’s services in 2017. These companies included big names like Microsoft, Spotify, Pinterest, and HSBC. More and more corporate employees are opting for sharing an office with a coworker in one of the many coworking office hubs opening up around the world.

Most people consider the social aspect when joining a coworking space.

(Deskmag)

According to Deskmag’s coworking survey, people choose a coworking space based on it having an enjoyable atmosphere (59%), to interact with others (56%), and to build a sense of community around themselves (55%).

Most coworkers prefer 24/7 access to their coworking space.

(Deskmag)

According to Deskmag’s research, 59% of those surveyed said they would prefer 24/7 access to their coworking space. Coworking statistics show that people look at coworking hubs as homes away from home; they feel much more comfortable when they aren’t bound by traditional office working hours.

Coworking Growth Statistics

Coworking is already a huge and well-developed industry in 2021, but growth predictions show that it has yet to reach its full potential. Here are some statistics that prove this point.

By the end of 2019 there will be an estimated 696 new coworking spaces in the US and 1,688 worldwide.

(Coworking Resources)

Coworking forecast numbers indicate that almost 40% of the coworking spaces opened globally this year will be opened in the US. Although China is a rapidly growing market, the US still leads the world in the number of newly opened coworking office spaces.

65.3% of newly opened coworking spaces are opened by new businesses.

(Coworking Resources)

The other 34.7% are made up of chains or secondary/tertiary locations opened up by companies. This shows that startups, independent business owners, and entrepreneurs still drive the majority of the industry’s growth.

The US ranks eighth in the world in coworking growth per capita.

(Coworking Resources)

Coworking growth statistics show that Luxembourg is leading the world with 8.5 new spaces every year per million inhabitants. At 2.8 per million, the US is tied with Canada and behind Australia, the UK, New Zealand, Ireland, and Singapore.

China is rapidly becoming one of the world’s largest coworking markets.

(Allwork.Space)

The number of coworking locations in China is growing rapidly. It nearly doubled between 2014 and 2016 and is expected to reach almost 5,000 by 2020. More than 6 million startup businesses were registered in China in 2017. If coworking trends continue at current rates, China is set to become one of the largest coworking markets in the world.

New York and London are the world’s leading cities in terms of the number of new coworking space opening up.

(Coworking Resources)

A new coworking office space opens up roughly once a week in New York and once every five days in London. Other big hubs include Toronto, Austin, Denver, Dallas, Los Angeles, Houston, Melbourne, and Chicago. Outside of the UK, coworking statistics in Europe are trending upward in Berlin and Paris, with 21.9 and 28.5 days between new coworking hub openings respectively.

California and Texas have the largest number of new coworking spaces opened per year in the US.

(Coworking Resources)

Although Manhattan leads the world in the number of newly opened coworking office spaces per year, California (111) and Texas (100) come out ahead of New York (87) in the states race. Coworking space statistics in the USA show that the other two major players are Colorado with 44 and Florida with 39 new coworking spaces opened every year.

Coworking Benefits

Work statistics globally show a move towards coworking spaces in favor of traditional offices. Why are more and more people taking the plunge and what are the benefits you can expect from joining the coworking revolution? Let’s find out below.

Coworking reduces loneliness and makes workers happier.

(Small Business Labs)

Of all the coworking stats we can throw at you, this might just be the most important one. A whopping 89% of coworkers say they feel happier after joining a coworking space and as many as 83% say it makes them feel less lonely. The cosy, relaxed nature of most coworking hubs contributes to social interactions and helps boost spirits at work.

Coworking creates more motivated and successful workers.

(GCUC)

According to GCUC’s survey, 84% of coworkers say working in a coworking hub makes them more motivated. Other responses show that 69% say they have obtained new skills and 68% say their existing skills have improved since joining a coworking office space. GCUC’s coworking space industry analysis paints a clear picture - coworking spaces create better workers!

Coworking leads to better networking opportunities.

(Small Business Labs)

The survey by Smallbiz shows that 82% of respondents have expanded their professional network since joining a coworking office space. If you’re looking to grow your network of professional contacts, joining a coworking hub may be just the ticket!

Coworking Challenges

So far we’ve highlighted some promising coworking stats and mentioned the growth statistics and benefits of coworking. Before we wrap things up, let’s look at a few stats that show the challenges this rapidly growing industry still faces in 2019.

Attracting new members is the biggest challenge for coworking spaces in 2019.

(Statista)

Attracting new people is the number one problem for coworking spaces according to Statista. Nearly two-thirds of those surveyed by Statista identified the lack of new blood as the biggest concern. After all, what is a coworking space without workers? Financial difficulties, lack of space, general workload, and administrative tasks are some of the other common problems.

Only 42% of coworking spaces globally were profitable in 2018.

(Deskmag)

According to Deskmag, global numbers don’t paint a flattering picture in terms of the profitability of coworking spaces. Global coworking space statistics show that only 42% of these spaces are profitable, 33% manage to break even, and as many as 25% operate at a loss. These numbers are a bit better in the US, with 52% of spaces operating at a profit and only 17% incurring losses.

Rent is still the biggest expense when starting a coworking space.

(Wun Systems)

High rental costs are still the primary expense when starting a new coworking hub. Making up 40% of the overall expenditure budget, rent costs more than employee wages (16%) and upkeep costs (15%) put together. In 2019 the global coworking forecast looked much the same - rent prices remained the largest financial burden for cowork spaces.

Frequently Asked Questions
What are the benefits of coworking?

Coworking improves happiness and motivation. It also helps you learn new skills and master existing ones, while improving your networking opportunities.

How many coworking spaces are there in the US?

According to coworking stats for 2019, there were over 5,000 coworking spaces in the US alone and 19,000 around the world.

What is a coworking office space?

A coworking office space is a business model that involves individuals working independently or collaboratively within a shared office space. Unlike in a typical office, those coworking are usually not employed by the same organization. However, this has begun to change in recent years.

How do I choose a coworking space?

Generally, most people pick a coworking space that makes them feel comfortable and relaxed. There are many factors to consider - location, cost, the type of work you will be doing, whether you prefer to work alone or in a group, and so on.

How many people use coworking space?

Coworking statistics show that about 3.1 million people are currently using coworking spaces around the world. This number is estimated to grow to over 5 million in the next few years.

How much does coworking space cost?

The average monthly cost of a 24/7 permanently accessible coworking desk is $387 a month in the US, €245 in the Eurozone, and £200 in England. Shared workspace companies offer better deals in cheaper cities, but you have to pay a pretty penny if you want a snazzy office in downtown Manhattan. Flexible desks are also much cheaper, but you lose 24/7 access to your station.

About author

Ivan is an energetic ambivert with a passion for creative writing, music, languages and technology. He loves writing about small businesses and startups, and is on a constant mission to help you make the most informed choices about the various aspects of running your own business. In his free time, he enjoys playing and listening to music, biking, cooking, reading novels and playing video games.

More from blog

Women account for 50.8% of the US population, hold 57% of all undergraduate degrees, and approximately 60% of all master’s degrees. And even though they hold about 52% of all management-level jobs, American women cannot keep pace with men in terms of representation when it comes to top leadership roles.  As male vs. female CEO statistics show, it’s the profit and loss roles or P&L responsibilities such as leading a brand, unit, or division, that set executives on the track to becoming a CEO. On the other hand, women who advance into C-suites - the “chief” jobs in companies - typically take on the roles such as head of human resources, legal, or administration. Although all of these functions are extremely important, the line of work they focus on doesn’t involve profit-generating responsibilities, which rarely makes them a path to running a company. Why does the percentage of CEOs that are female remain low in all parts of the world? There isn’t a simple answer to this question. Several studies have shown that it’s the fusion of work-life constraints, early professional trade-offs, and firmly established attitudes towards women in power and the skills and traits that make a good leader that can explain why the careers of equally ambitious and capable men and women often take such different turns. Let’s take a look at some of the most interesting findings. Male vs Female CEO Statistics - Editor’s Choice Female CEOs are running 41 Fortune 500 companies. There are two Black women among the Fortune 500 CEOs. Women made up only 5% of the CEOs appointed in 2020 globally. At the CEO level, men outnumber women by approximately 17 to one.  59% of male employees aspire to become CEOs versus 40% of women. 77% of women say the biggest obstacle to gender equity at the workplace is the lack of information on how to advance. Between 2015 and 2020, the share of women in senior vice president roles in the US increased from 23% to 28%. (McKinsey & Company) Over the same period, the percentage of women in the C-suite went up from 17% to 21%. All women, especially those of color, remained significantly outnumbered in senior management positions. However, prior to the start of the coronavirus pandemic, the representation of female workers in corporate America was slowly trending in the right direction.  According to 2020 statistics on female CEOs in the United States, 21% of C-suite members were women.  (McKinsey & Company)  Based on the survey results published by McKinsey & Company, there’s a leaky pipeline for women in leadership. In 2020, female workers accounted for 47% of entry-level positions, 38% of management roles, and 33% senior management/director roles. Women were entrusted with under one third (29%) of all vice president positions in American organizations. For every 100 men who got promoted to a managerial role, only 85 women advanced to the same position, based on the 2020 data.  (McKinsey & Company) This gap was even larger for women of color as only 71 Latinas, and 58 Black women received a promotion. Consequently, women remained underrepresented at the managerial level holding just 38% of manager positions, while men accounted for 62%. Male vs female CEO statistics from 2020 indicate that 39% of senior-level women burned out compared to 29% of men. (McKinsey & Company) Furthermore, 36% of women felt pressured to work more, in comparison with 27% of men. At the same time, 54% of C-suite women reported that they constantly felt exhausted, and so did 41% of men in similar positions. More than 50% of women in senior leadership roles promote gender and racial equality at work, in comparison with approximately 40% of male top executives. (McKinsey & Company) Women in leadership positions are more likely than men in senior-level roles to take a public stand on racial and gender diversity and champion the advancement of employee-friendly programs and policies. Women CEOs are also more likely to sponsor and mentor other female workers. According to the results of a recent survey, 38% of women in senior-level positions currently mentor or sponsor at least one woman of color, compared to only 23% of men in the same roles.   Female CEOs are running 41 Fortune 500 companies. (Fortune, Statista) In 2021, the number of women appointed to CEO positions in America's 500 highest-grossing companies reached an all-time high. However, the new record still only translates to approximately 8% of female representation at the top of the country's largest public businesses.  On the plus side, the number of women CEOs of Fortune 500 companies almost doubled in comparison with 2018 when there were 24 females leading the nation’s biggest businesses. Calls for diversity and inclusion in the highest echelons of America’s business world are starting to bear fruit as the number of female Fortune 500 chief executive officers increased for the third consecutive year. The top five biggest female-led Fortune 500 businesses as of August 2021 are CVS Health (rank four), Walgreens Boots Alliance (rank 16), General Motors (rank 22), Anthem (rank 23), and Citigroup (rank 33).  Speaking of women in leadership roles, statistics show that there are two Black women among the Fortune 500 CEOs. (Fortune) For the first time, two Black women are running Fortune 500 businesses - Roz Brewer of Walgreens Boots Alliance (rank 16) and Thasunda Brown Duckett of TIAA (rank 79). Before Duckett and Brewer started their new jobs in 2021, only one Black woman - Ursula Burns, former Xerox chief - had ever been appointed CEO at a Fortune 500 business on a permanent basis. After Burnes stepped down from the role in 2017, and, with the exception of Bed Bath & Beyond's Mary Winston, who worked as interim chief for a few months in 2019, Black female chief executive officers have been missing from the Fortune 500 list ever since. Citigroup CEO Jane Fraser is the first woman to run a major Wall Street bank. (Fortune) Fraser’s appointment marked huge progress for the financial industry. Much like Dick's Sporting Goods chief Lauren Hobart, Clorox chief Linda Rendle, new Coty CEO Sue Nabi, Walgreens Boots Alliance’s Roz Brewer, Thasunda Brown Duckett of TIAA, and CVS’s CEO Karen Lynch, Fraser took over from a male CEO. Statistics on Fortune 500 CEOs by gender reveal that there were only 37 female and 463 male chiefs leading America’s highest earning businesses in 2000. (Fortune) The number of women in CEO positions in the Fortune 500 hasn’t been growing steadily throughout the last two decades. There were 24 female chiefs in 2015, 21 women CEOs in 2016, and 32 women running Fortune 500 businesses in 2017, while that number dropped to 24 in 2018.  At the median, 16 female CEOs earned $13.6 million in 2020, in comparison to $12.6 million for the 326 men included in a study. (Equilar) According to a study published in May 2021 comparing a male CEO salary vs. a female CEO salary, women have outpaced men in total pay but remained underrepresented in executive positions. Equilar’s study indicates that Lisa Su, the chief executive officer of Advanced Micro Devices, was the highest-paid woman for the second consecutive year and the highest-paid CEO overall in 2020.  Globally, women made up only 5% of the CEOs appointed in 2020. (Heidrick & Struggles) The highest percentage of newly-appointed female CEOs was in Ireland (15%), while the lowest was in Brazil (0%). This is according to a paper that analyzed the backgrounds of chief executives leading 965 of the largest companies in 20 markets around the world. It sought to identify the skills and experience that shaped their path to the top while taking different male vs. female CEO statistics into account.  At the CEO level, men outnumber women by approximately 17 to one.  (Morningstar) According to a study that explored the gender gap in US companies, the number of male executive officers is seven times higher than the number of women holding the same positions. More than 50% of the companies analyzed didn’t have a single female on their lists of executive officers. Jackie Cook, the author of the Morningstar report, found that online retail giant Amazon didn’t have any women among its highest-paid executives as of 2020.  Women who negotiate for raises and promotions are 30% more likely to be considered as "too aggressive" or "intimidating". (Business Insider) Speaking of male managers vs. female managers, statistics reveal that women who don’t negotiate at all are 67% less likely to receive the same negative feedback. The proportion of women in senior management roles increased from 20% in 2011 to 29% in 2020, globally. (Grant Thornton) As 2019 saw a jump of 5% compared to 2018 (amounting to a total of 29%), 2020 represents a leveling off of the progress made during the previous year. This lack of movement doesn’t necessarily reflect a failure of companies to address the existing gender gap. Globally, the proportion of companies with at least one woman in senior management was 87% in 2020.  (Grant Thornton) The number of female CEOs and senior managers has risen by almost 20 percentage points over the last few years. For comparison, this figure stood at 68% in 2015 and 68% in 2017.  77% of women say the biggest obstacle to gender equity in the workplace is the lack of information on how to advance. (Working Mother Research Institute) Only 41% of female survey participants, as opposed to 64% of male respondents, said they have a network of coaches, mentors, and sponsors offering them career guidance. 37% of women versus 64% of men said that their companies provide information on career paths that lead to executive roles. (Working Mother Research Institute) Additionally, women CEO statistics indicate that 74% of female employees understand what the specific requirements are for advancing to the highest-paying roles in their companies even though they don’t receive this type of information directly.  60% of women believe they have the same opportunities to advance as anyone else at their workplace versus 74% of men.  (Working Mother Research Institute) Similarly, 65% of women express they are satisfied with the way their careers are progressing, and so do 78% of men.  Male vs female CEO stats reveal that 59% of male employees aspire to become chief executives versus 40% of women.  (Working Mother Research Institute) Of those women who aspire to become CEOs, 6% are first-level managers (as opposed to 13% of men) and 39% are executives. The same goes for 40% of men hoping to take on the role of chief executive officer.  Businesses with high representations of women in leadership roles had a 35% higher return on equity and 34% higher total shareholder return in comparison with male-dominated companies.  (Catalyst) Female vs male CEO statistics compiled by an NGO during a review of 353 Fortune 500 companies show that the differences were most apparent in facial services, consumer discretionary, and consumer staples industries.
By Milica Milenkovic · September 24,2021
Wage gaps still persist - find out who's affected the most and how widespread the problem actually is.
By Milica Milenkovic · September 24,2021
We’ve compiled a list of the most relevant SEO statistics for growing businesses.
By Ivana V. · June 09,2021

Leave your comment

Your email address will not be published.


There are no comments yet