Why Co-working Spaces are the New Normal Amid a Pandemic

The growth of the global co-working industry has skyrocketed during the past few years, with the COVID-19 pandemic accelerating it even more. In fact, experts project that it will reach a market size of $13.03 billion by the year 2025 with a compound annual growth rate of 12%.

But why exactly have co-working spaces thrived, despite the COVID-19 outbreak taking a toll on other real estate-based industries? Why have they become the new normal amid a pandemic?

Well, here are a few reasons why.

The Rise of Remote Work

Quarantine mandates and stay-at-home orders forced companies to adopt remote work arrangements. During the pandemic, nearly half of employees from across the world were working remotely full-time and 62% of them expect their employers to allow them to continue doing so moving forward.

This new emphasis on remote work indicates that traditional offices are no longer non-negotiable in the corporate and business world. Many employers may even do away with them, creating a need for spaces that are flexible yet stable enough to enable face-to-face collaboration between teams.

While co-working spaces weren’t in use much during the height of the COVID-19 outbreak, they’re projected to become an integral part of the post-pandemic world. Since remote work isn’t going anywhere, the demand for co-working spaces will only increase from here on out.

The Preference for Alternatives to Traditional and Home Offices

Home offices aren’t suitable for remote workers living in tiny apartments, noisy residential areas. Nor are they a viable option for employees who prefer to separate their personal lives from their everyday responsibilities.

Just recently, studies conducted by hybrid workplace platform Hubble HQ found that co-working spaces came in second to work-from-home arrangements, with a whopping 42.6% of employees saying that they favored them.

With this in mind, it’s clear that not only are co-working spaces a fantastic alternative to traditional commercial offices but they’re also a great option for those who prefer to keep their personal lives separate from their day-to-day work.

The Need to Belong in a Community

People mistakenly believe that co-working spaces involve only desks, chairs, and a shared pantry; however, they provide people with so much more than that. Rather, they bring together like-minded individuals who share ideas with each other, helping grow businesses and advance professional careers.

Being in this environment is one of the main reasons why co-working spaces have boomed amid the COVID-19 pandemic. Digital platforms may have enabled people to stay connected with their colleagues; however, many of them still crave a community that can hold them accountable while simultaneously pushing them to become better versions of themselves.

The incredible opportunities that co-working spaces offer shouldn’t be overlooked. In addition to networking with other professionals, many of them also offer workshops and talks hosted by industry experts, which can be helpful for those looking to further their careers or business ideas.

Co-Working Spaces are the New Normal

The way we work and do business has drastically transformed due to the pandemic, and these changes will likely stay for good. Companies that are struggling to thrive and adapt to this new environment will benefit from using co-working spaces, which address the needs of both employees working remotely and their employers.

Tired of working at home? Then, check out GlobalSpaces – the premier co-working space in the Philippines. Located in Makati City, it offers everything that modern employees need, from extremely fast WiFi, a pantry, and ultimately to space away from all the distractions.

GlobalSpaces even provides support to start-ups and entrepreneurs in the Philippines, with services like virtual office packages, and private rooms for meetings and conferences.

Interested? Then, book a FREE consultation now to learn how GlobalSpaces can help take your career or business to greater heights. You may also contact them at 0998-842-4192.