Coworking Industry Statistics and Research
The coworking industry in Canada has seen significant growth in recent years, with more and more Canadians choosing to work in shared spaces rather than traditional offices. As the industry continues to evolve in Canada, it’s important to take a look at the latest statistics and research to understand the growth and impact of coworking spaces in the country.
According to a recent report by the Global Coworking Unconference Conference (GCUC), the number of coworking spaces in Canada is projected to reach over 1,500 by the end of 2022. This represents a significant increase from the over 1,000 spaces that existed in 2018. The report also found that the number of coworking members in Canada is projected to reach over 200,000 by the end of 2022, up from over 75,000 in 2018.
Another study by Colliers International found that coworking spaces are becoming more prevalent in larger cities and metropolitan areas in Canada. For example, Toronto and Vancouver have the highest number of coworking spaces, followed by Montreal and Calgary.
Research has also shown that the benefits of coworking spaces extend beyond cost savings and flexibility in Canada. A study by the Harvard Business Review found that workers in coworking spaces reported higher levels of well-being and job satisfaction compared to those who worked in traditional offices. Additionally, a study by the University of California found that workers in coworking spaces in Canada were more likely to feel a sense of community and to engage in spontaneous interactions with other members.
Despite the growth of the industry in Canada, there are still challenges to be addressed. A report by the International Association of Workspace Providers (IAWP) found that the Canadian coworking market is highly fragmented, with the top 10 operators accounting for only 10% of the total market. Additionally, the report found that the industry is facing increased competition from flexible office providers and landlords in Canada.
Overall, the coworking industry in Canada is showing strong growth and impact, however, it’s important to keep in mind that it’s still a relatively new industry with ongoing challenges to be addressed. It will be interesting to see how the industry will evolve in Canada in the future and how coworking spaces will continue to adapt and meet the changing needs of Canadian businesses and workers.
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