There is no denying that 2018 has been an excellent year for coworking spaces. Freelancers, SMEs and large enterprises – businesses from big to small and everything in between, are seeing the benefits of using shared workspaces. With more people than ever before opting for a flexible approach to business, 2019 is set to be an even bigger year for coworking, so we took a look at the top predictions for the sector this year.
The Real Estate Market
The real estate industry has finally realised that coworking is not a fad or trend. Coworking is significantly impacting the real estate industry. In 2019 it is predicted that we will see landlords and real estate companies building their own brands and more importantly, partnering with existing brands in an effort to enter such a lucrative market.
Differentiation is vital when operating in such a competitive space, and 2019 will be no different for the coworking industry. Bespoke workspaces will be prevalent throughout the sector as brands continue to find new and imaginative ways to stand out from the crowd.
We will continue to see brands grow and expand internationally in 2019. Consolidation amongst operators will also increase this year, with large brands buying existing brands to gain access to a new market.
Health & Wellness
The importance of health in the workplace will be more prevalent than ever in 2019. It is anticipated that by 2021, 90 per cent of wellness plans in the U.S. will include health trackers. With many industry experts reiterating how ‘the office is killing us’ the importance of health in the workplace is increasing.
Mental health is also at the forefront this year, with the importance of face-to-face interaction bringing people back to the office. The biggest reported struggle of remote work is lack of community – 21% of remote workers named “loneliness” as one of their main on-the-job issues.
Generation-Z is entering the workforce and are expected to comprise up to 36% of the global workforce by 2020. These new entrants are digital natives; members of this generation are likely to be increasingly comfortable with more modern technology and will be more inclined to seek remote or flexible working arrangements, rather than pursue traditional corporate roles.
They are the first generation to grow up entirely in an internet-centric society – shared workspace providers need to keep up!
Remote work will continue to grow
All signs are pointing towards increased growth amongst remote workers. The introduction of Gen Z, as well as a rise in the gig economy, are also impacting this trend, pushing more businesses towards adopting more flexible working policies. Coworking spaces are well positioned to cater to this growing trend.
2019 is set to be an even more exciting year for the sector, and we look forward to seeing all that is to come!