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Coworking in Asia - The fastest pace of growth in the world

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Honey J. Kathuria is the founder of Kowkr, a platform based in Hong Kong and Mumbai listing coworking and shared office spaces. Asian coworking brands are in the steps of WeWork and the number of square meters dedicated to coworking is growing very fast.

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Coworking in Asia - The fastest pace of growth in the world

  1. 1. Coworking  in  Asia:  growing  and   evolving  faster  than  in  other   regions  of  the  world Honey  J  Kathuria Founder:  Kowrk.Com Asia’s  largest  platform  to  connect  users  &  providers  of  shared  work  spaces
  2. 2. Coworking  Industry  is  Growing https://www.statista.com/
  3. 3. 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-­‐perspective 2:http://www.business-­‐standard.com/article/economy-­‐policy/co-­‐working-­‐spaces-­‐to-­‐grow-­‐50-­‐in-­‐2017-­‐says-­‐jll-­‐india-­‐chief-­‐117072000719_1.html 3:  Kowrk.com  PHM  Analysis
  4. 4. 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-­‐perspective 2:http://www.business-­‐standard.com/article/economy-­‐policy/co-­‐working-­‐spaces-­‐to-­‐grow-­‐50-­‐in-­‐2017-­‐says-­‐jll-­‐india-­‐chief-­‐117072000719_1.html 3:  Kowrk.com  PHM  Analysis
  5. 5. 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-­‐perspective 2:http://www.business-­‐standard.com/article/economy-­‐policy/co-­‐working-­‐spaces-­‐to-­‐grow-­‐50-­‐in-­‐2017-­‐says-­‐jll-­‐india-­‐chief-­‐117072000719_1.html 3:  Kowrk.com  PHM  Analysis
  6. 6. WeWork is  in  Lead July  2017:  $20Bn   https://www.statista.com/
  7. 7. 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
  8. 8. 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
  9. 9. Users  of  Coworking  Spaces 41%   CAGR *http://www.smallbizlabs.com/:  Emergent  Research
  10. 10. Comparative  overview  across  the  globe
  11. 11. The  Opposite  Sides • Coworking  prices  in  Switzerland are  currently  the  highest  in  the   world at  ~600  USD  per  month
  12. 12. 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.
  13. 13. 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.
  14. 14. 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)
  15. 15. New  York  -­‐>  London  -­‐>  Hong  Kong
  16. 16. New  York  -­‐>  London  -­‐>  Hong  Kong NY  ($520)  is  most  expensive  followed  by  HK  ($450)  and  London($350)
  17. 17. India  Flavor
  18. 18. 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  
  19. 19. 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
  20. 20. 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    
  21. 21. Happy  Kowrking! hjk@kowrk.com

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