Coworking bookings surge 300% in 2023: GoFloaters report on hybrid work trends

Coworking bookings have increased 300% in 2023 compared to last year, according to a report by flexible workspaces provider GoFloaters.

The pandemic has made hybrid work popular in India. In fact, workers are even willing to switch jobs if they are required to return to the office full-time, the report found.

Data for The State of Hybrid Work: A Comprehensive Report on Work Trends came from 46,090 customer interactions over the past 15 months from GoFloaters’ WorqFlexi platform.

The survey also discovered that large businesses with more than 150 workers accounted for 69.1% of coworking reservations. Additionally, more employees from larger organisations use more meeting spaces.

About 80% of workers and 60% of organisations prefer some form of hybrid work arrangement, the report found.

“Our data thoroughly debunks the popular perception that independent contributors or smaller organisations dominate the coworking space bookings, revealing that larger organisations have an overwhelming share of coworking space bookings for the year 2022-23. Further, a 300% surge in coworking day pass and meeting room bookings underscores how organisations are embracing the concept of hybrid-remote work,” Co-founder and CEO of Chennai-based GoFloaters, Shyam Sundar Nagarajan, said in a press release.

According to the report, when companies offer women the opportunity to work near their homes on selected days, they (23.6% according to the survey) show equal or greater interest in working from a coworking space.

Women in Tier II cities were less likely to use coworking spaces than those in Tier I cities. Also, women in mid-sized businesses use coworking spaces more frequently than their colleagues in bigger firms.

According to GoFloaters’ report, while coworking space reservations for all businesses started in 2022 slowly, they quickly rose after April 2022. While small or mid-sized companies continued to expand until March 2023, large businesses saw the fastest growth, which peaked in January 2023.