Despite the WeWork debacle in the US, the segment has emerged as a viable asset class for landlords and operators in India. So, let’s take a look at what’s in store for coworking in India in 2020...
Millennials and startups to drive demand
In 2020, millennials will form 50% of the global workforce. This burgeoning and influential segment has been at the core of the coworking story in India and will continue to drive demand for such spaces in the country. India happens to be the world’s youngest startup nation with over 70% founders under the age of 35 years. According to NASSCOM, India will have more than 10,500 startups by end-2020, ranking third behind the US and UK. As cities like Bengaluru, Gurugram, Pune and Hyderabad witness an entrepreneurial wave, the demand for coworking spaces is expected to grow over the years.
Even mainstream corporates and large enterprises will contribute to the growth of coworking spaces. (In fact, Google leased office space with coworking operator Simpli Work in Gurugram to expand operations!)
Large players to expand footprint
This story is from the February 2020 edition of Commercial Design.
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This story is from the February 2020 edition of Commercial Design.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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