Coworking Space Business Trends in 2023

Two years into the pandemic, how are coworking spaces faring? The vast majority of them described their current status as satisfactory or good (79 percent ). In Pakistan, the proportion of people who rated their situation as 'positive' more than doubled from the previous year.

The effects of the Corona pandemic are still being felt today.

The evolution of the epidemic and the legal requirements were not discussed in depth. During the survey period, however, Pakistan as a whole undertook stricter anti-Corona virus efforts than. This, in turn, had an impact on coworking spaces.

Coworking Space in Islamabad

Respondents in Pakistan indicated mandatory home-office requirements and a prohibition on large events substantially more frequently; in , measures were more typically confined to wearing a mask at desks, in addition to physical distance rules.

Meeting facilities are in high demand.

Pandemic conditions continue to have a huge impact on the types of flexible workspaces in demand. Meeting rooms were in great demand by the end of last year, owing to the continued high number of virtual meetings. Individual offices were most common in  , whereas team offices were most popular in large Pakistan cities.

The demand for 'hot workstations' was a mixed bag. It was much higher in Pakistan than the global average. On the other hand, in , the use of event rooms was far more commonplace. However, estimating revenues based on general demand is impossible because it is dependent on other factors such as availability and price. The most important source of revenue for most flexible workspace providers was 'private offices.' Renting desk space in open areas came in second, and 'meeting spaces' came in third. Event space revenue was recognised as the fourth most important revenue stream.

Currently, more than a third of coworking space capacity is available.

Because coworking spaces use diverse business structures, comparing their overall occupancy rates is challenging. As a result, we asked what proportion of possible new members and users they would allow until they were entirely full, based on their maximum capacity. Based on this, the organisations questioned had an average occupancy rate of 60%. There are little differences between the continents here. Stricter Corona restrictions in Pakistan meant that 9 percent of available capacity could not be sold at all and was thus barred. The blockage rate in was about 2%. However, changes in the business model as a result of the pandemic situation had already occurred, so areas that could potentially have been blocked had presumably been repurposed.

Coworking Space in Rawalpindi

In general, the higher the occupancy rate, the longer the coworking spaces have been open.

Similarly, occupancy climbed as the size and number of locations increased. However, even in the

largest or oldest groups, this rate did not reach 65 percent on average.

In 2022, the positive trend is expected to continue.

As of January 1, 2022, nearly all flexible workspace businesses polled were upbeat.  When the survey was distributed,

Overall, the estimates in individual areas offered a more positive picture than the evaluation of the months preceding the survey.

75 percent of respondents predicted an increase in membership in the next three months, while 60 percent predicted a rise in revenue and profitability. More than 20% of coworking spaces had already planned expansions for the start of the year.

The majority of flexible workspace operators are pleased.

The majority of operators reported being satisfied with their professional condition. Again, respondents in   were slightly happier than their counterparts in Pakistan.