North America: According to the Instant Group’s June report, flexible workspace usage is 19 per cent higher than pre-pandemic levels in the United States and Canada.
Since 2022, the average size of flexible workspaces requested by companies has increased by 25 per cent and contract lengths have grown by 10 per cent since 2019. These reported numbers are just some that signal businesses are committing to flex space as a long-term strategy.
Demand for flexible workspaces is spreading from urban cities, such as New York, to smaller cities, such as Miami, Raleigh and Seattle. Key figures from the Instant Group’s report include:
- Miami: Demand up 153 per cent, supply down 3 per cent
- Raleigh: Demand up 144 per cent, supply up 14 per cent
- Seattle: Demand up 57 per cent, supply up 8 per cent
To profit from the growing demand, many flexible workspace operators are offering an increased number of services, such as day passes, hybrid memberships, premium amenities, and tech-enabled booking systems.
According to the Instant Group, meeting room searches rose 79 per cent last year, signaling demand for flexible, on-demand locations.
However, as demand for flexible workspaces grows, supply is struggling to keep up, especially in high-demand and underserved regions. This supply gap presents an opportunity for operators to establish premium offerings where competition is limited.
From the Instant Group’s report, consumers can understand the flexible workspace market in North America is becoming more refined.
Highlights:
- Flexible workspace demand in the U.S. and Canada is 19 per cent higher than pre-pandemic levels.
- Demand is expanding beyond major cities into smaller markets, such as Miami, Raleigh and Seattle.
- Operators are expanding offerings with day passes, hybrid memberships, premium amenities and tech-enabled bookings.
- A supply shortage in high-demand areas creates opportunities for operators to deliver premium workspaces in underserved markets.
