coworking in asia - the fastest pace of growth in the world
TRANSCRIPT
Coworking in Asia: growing and evolving faster than in other
regions of the world
Honey J KathuriaFounder: Kowrk.Com
Asia’s largest platform to connect users & providers of shared work spaces
Coworking Industry is Growing
https://www.statista.com/
Growth Indicators
• USA: 27 million sq. feet of shared workspace1~40% of the American workforce are independent contractors, freelancers, or are not otherwise traditionally employed
1:http://www.us.jll.com/united-‐states/en-‐us/research/property/office/coworking-‐space-‐the-‐ landlord-‐perspective2:http://www.business-‐standard.com/article/economy-‐policy/co-‐working-‐spaces-‐to-‐grow-‐50-‐in-‐2017-‐says-‐jll-‐india-‐chief-‐117072000719_1.html3: Kowrk.com PHM Analysis
Growth Indicators
• USA: 27 million sq. feet of shared workspace1~40% of the American workforce are independent contractors, freelancers, or are not otherwise traditionally employed
• India: coworking spaces to grow by 40-‐50% to 1 million sq. feet2
1:http://www.us.jll.com/united-‐states/en-‐us/research/property/office/coworking-‐space-‐the-‐ landlord-‐perspective2:http://www.business-‐standard.com/article/economy-‐policy/co-‐working-‐spaces-‐to-‐grow-‐50-‐in-‐2017-‐says-‐jll-‐india-‐chief-‐117072000719_1.html3: Kowrk.com PHM Analysis
Growth Indicators
• USA: 27 million sq. feet of shared workspace1~40% of the American workforce are independent contractors, freelancers, or are not otherwise traditionally employed
• India: coworking spaces to grow by 40-‐50% to 1 million sq. feet2
• Hong Kong: Area occupied by coworking spaces as a% of country area is the highest in the world3
1:http://www.us.jll.com/united-‐states/en-‐us/research/property/office/coworking-‐space-‐the-‐ landlord-‐perspective2:http://www.business-‐standard.com/article/economy-‐policy/co-‐working-‐spaces-‐to-‐grow-‐50-‐in-‐2017-‐says-‐jll-‐india-‐chief-‐117072000719_1.html3: Kowrk.com PHM Analysis
WeWork is in Lead
July 2017: $20Bn
https://www.statista.com/
Asian players are not behind
• Naked Hub + Just Co: largest premium coworking space operator in Asia.
• UrWork + New Space: biggest coworking space chain in China
Asian players are not behind
• Naked Hub + Just Co: largest premium coworking space operator in Asia.
• UrWork + New Space: biggest coworking space chain in China
• The Hive: Strong SEA player in HK, BK, SG, VN
• Many local players are being funded – Awfis, Toong, Worq, Spacemob
Users of Coworking Spaces
41% CAGR
*http://www.smallbizlabs.com/: Emergent Research
Comparative overview across the globe
The Opposite Sides
• Coworking prices in Switzerland are currently the highest in the world at ~600 USD per month
The Opposite Sides
• Coworking prices in Switzerland are currently the highest in the world at ~600 USD per month
• The cheapest country for coworking in the world is Cambodia (~85 USD per dedicated desk per month). • In 2016, ??? was the cheapest.
The Opposite Sides
• Coworking prices in Switzerland are currently the highest in the world at ~600 USD per month
• The cheapest country for coworking in the world is Cambodia (~85 USD per dedicated desk per month). • In 2016, India was the cheapest.
The Opposite Sides
• Coworking prices in Switzerland are currently the highest in the world at ~600 USD per month
• The cheapest country for coworking in the world is Cambodia (~85 USD per dedicated desk per month). • In 2016, India was the cheapest.
• Hong Kong is one of the most expensive country to cowork in Asia (~450 USD)
New York -‐> London -‐> Hong Kong
New York -‐> London -‐> Hong Kong
NY ($520) is most expensive followed by HK ($450) and London($350)
India Flavor
Growth in the last 2 years -‐ Mumbai
Mumbai, Bangalore, and Delhi NCR collectively host 70% of the startups in India
• Mumbai: The most expensive city for coworking in India (~135 USD). • <15 spaces in 2015 -‐> 50+ spaces in 2017• 35% price increase
Growth in the last 2 years -‐ Bangalore
• Bangalore: Coworking prices increased by 50%
• highest variation of coworking prices in India ($40 -‐ $300 pm)
• Majority of new spaces opened in ‘outskirt’ areas
Growth in the last 2 years -‐ Delhi
• Delhi: 100% increase in number of spaces
• Coworking cost remained stable
• Least variation in coworking prices
• Highest concentration in South Delhi & Noida
