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Vietnam ranks 31st worldwide for increase in coworking space

Friday, May 17, 2019, 10:58 GMT+7
Vietnam ranks 31st worldwide for increase in coworking space
A coworking space in Ho Chi Minh City. Photo: Vu Thuy / Tuoi Tre

A recent study on the state of the coworking industry in 2019 has revealed that Vietnam is the 31st fastest-growing country worldwide in terms of coworking space numbers per capita.

CoworkingResources, a global informational hub for modern workspaces, released the results of its 2019 Global Coworking Growth Study on Wednesday.

The study extensively researched the opening of new coworking spaces around world over a ten-month period, from June 2018 to April 2019, using data collected and categorized from web and social media announcements, as well as industry newsletters.

Accordingly, Vietnam is ranked 31st among the top 50 major countries and territories in terms of coworking growth per capita.

Top 50 countries worldwide by coworking growth per capita. Photo: CoworkingResouces

Top 50 countries worldwide by coworking growth per capita. Photo: CoworkingResouces

Luxembourg, Singapore and Ireland stand as the top three, with the first chalking up 8.5 new spaces annually for every 1,000,000 inhabitants, almost double the other two's figures. 

New Zealand, the UK, Australia, Canada, the U.S., Hong Kong, and Bulgaria rounded out the top ten.

Among other findings, Ho Chi Minh City placed 41st out of the 50 fastest-growing cities in the world in terms of coworking space growth.

London tops the list, with a coworking space opening in the English capital city every five days, followed by New York, Toronto, Austin, Denver, Dallas, Los Angeles, Houston, Melbourne, and Chicago.

Top 50 cities worldwide by coworking growth. Photo: CoworkingResouces

Top 50 cities worldwide by coworking growth. Photo: CoworkingResouces

On a global scale, the number of coworking spaces worldwide is estimated to hit 18,000 by the end of this year, a drop from last year.

However, the industry is forecast to grow at a strong pace and the number of coworking spaces around the globe is expected to increase by 42 percent to 25,968 spaces by 2022.

In addition, the growth figures for 2019 indicate less expansion, but may also represent the industry’s focus on growing existing spaces by elevating occupancy rates and profitability.

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