Changing work styles fueling demand for coworking spaces

DEMAND for coworking workspaces in the Philippines is expected to rise amid easing inflation and as companies shift to flexible, short-term leasing, analysts said.

- By Beatriz Marie D. Cruz Reporter

"The recent drop in inflation to 1.4%, coupled with the Bangko Sentral ng Pilipinas’ (BSP) guidance toward gradual interest rate cuts signals improving macroeconomic conditions, setting the tone for renewed business confidence and investment activity," Ruth Coyoca, assistant vice-president for sales and business development at Greatwork Global Workspaces, said in a Viber message.

"For the coworking industry, this shift presents a significant upside," she added.

The coronavirus pandemic has accelerated companies' shift to flexible workspaces amid changing work styles. These include coworking spaces, hot desk and virtual offices and hybrid workspaces.

Ms. Coyoca said further rate cuts by the Philippine central bank could encourage both big and small companies to take up more flexible workspaces.