Coworking Spaces Grew More Than 1,000% In A Decade

Coworking spaces have grown by over 1,000 percent over the span of a decade. Back in 2008, there were just 160 coworking spaces worldwide. A decade later, there were 18,700 coworking spaces internationally. Within the next year and a half, coworking spaces are forecasted to reach 26,300 spaces worldwide. The coworking space industry is built on buying and renting buildings, turning them into shared office spaces, and then renting out space and amenities for a subscription fee.

The massive coworking market had a big day yesterday, when WeWork, one of the pioneers in the field, filed its initial public offering with the SEC. The rapid expansion of its business is one of the many risks that WeWork detailed in its S-1 paperwork. Part of the rapid expansion in office space is born out of the necessity for alternatives to traditional offices to accommodate the uptick in international companies with satellite offices and other flexible working needs, freelance work, and startups.