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Flexible workspaces can boost local economies by $254bn – Regus Study

Flexible workspaces can boost local economies by $254bn – Regus Study
The CEO of IWG - Mark Dixon

UAE – Mubasher: Due to the increasing global migration of flexible office space and co-working spots to areas outside large cosmopolitan cities, a ‘flex economy’ is being created and is likely to contribute over $254 billion to local economies over the next ten years, according to a Regus study.

The increasing local working is mainly backed by companies adopting flexible working policies; relinquishing the idea of having one and central headquarters and basing employees outside major metropolitan hubs in flex spaces, Regus said in a press release on Wednesday.  

This will contribute to employees’ wellbeing while saving money and increasing productivity.

The results of Regus’ research, which is the first comprehensive socio-economic study of second-city and suburban workspaces, showed that businesses in the UAE explore establishing operations in new areas in Dubai and other emirates.  

Interestingly, this concept tremendously fits businesses and people alike. For example, it encourages innovation, cuts down commute time, stimulates new businesses around while creating new jobs for local nearby residents.  

Commenting on this, country head Middle East for Regus’ parent company, IWG, Kory W. Thompson, remarked, “The UAE continues to attract businesses to set up operations in its key cities. But, increasingly we are seeing a shift to new areas of Dubai and other Emirates. To respond to this shift, Regus is due to open a new centre in Ras Al Khaimah in 2020.

Moreover, Kory added that IWG looks forward to growing into new areas of Dubai, including Dubai Silicon Oasis, by early 2020, aiming to be the only flexible working provider that will offer “a full country coverage from Ras Al Khaimah to Abu Dhabi.

Meanwhile, IWG’s CEO, Mark Dixon, said, “When people commute into major cities, their wallets commute with them. Working locally keeps that spending power closer to home. Businesses also recognise the benefits and we are seeing increasing demand from companies of all sizes for flexible space in smaller cities and towns.”

Society-wise, convenient office space can offer working routes to those who might otherwise be unable to commute to an office, including the physically challenged people and caregivers.