The market for co-working space in Thailand is growing quickly, estimated to increase by 25% year between 2018 and 2021, driven by both local and international players.
Phattarachai Taweewong, senior manager of research at property consultant Colliers International Thailand, recently said co-working space is increasingly becoming an alternative to serviced, mini and home offices.
“The market for co-working space is driven by demand from new generations,” he said. “They want a place to work that is easy to reach at an affordable cost.”
The market has also expanded to provinces like Chiang Mai, Phuket and Songkhla. These destinations have become a hub for foreign travellers in n Co-working offers a social environment that encourages interactions and knowledge sharing. This is well in line with the changing lifestyle of workers and corporate cultures in the emerging digital economy.
Companies consider co-working space as an alternative workplace option, not only because of the collaborative environment, but also for flexibility.
The short contract commitments and individual membership structures let companies quickly accommodate changes in headcount and support mobile workers like sales teams more efficiently and cost-effectively.
Recently, Noelle Coak, Regus’s country head for Thailand, Taiwan and Korea, said co-working spaces have emerged as the definitive environment for startups, entrepreneurs and those who think outside of the box, to not only work but to bring people together and build a real community.
“Most startup employees and entrepreneurs are millennials and are accustomed to being connected all of the time,” she said, “so it’s no surprise that they are increasingly looking for more inspiring options when working, such as business lounges, co-working spaces, short-term offices or drop-in centres.
“Worker demand is changing, and it’s up to Thai businesses to evolve with their changing workforce.”
Co-Working space is very much in demand now in places such as Phuket, we have seen similar success with start ups and digital nomads utilizing places such as Bali as a destination to set up business. Investment in fibre optic broadband and local infrastructure has made remote islands such as Phuket the ideal place to work and play
Nomadlist.com identify 53 Co-working spaces in Phuket and that number is set to rise especially as more people decide that they want to change their work-life balance.
Established companies such as Regus have set up base in Phuket and many of the island’s hotels are now offering co-working space as part of their business services. Many independents such as Srithanu Beach, Moo 8 Koh Phangan
have shot up across the island so there is plenty of choice for where you want to harness your goals and inspire your dreams.