With Thailand’s economy on the mend, the country is seeing growth in a few sectors. In addition to the industries that usually drive business, Thailand is seeing new businesses come on the scene. One industry that is definitely benefitting from the economy’s positive uptick is coworking space.
Since coworking appeared on the scene almost six years ago, the industry has seen the number of spaces grow tremendously. The concept’s mission is to provide professionals with a safe place to work and nurture innovation, but at the same time, create opportunities to network and collaborate with professionals from other industries. In Thailand, coworking has surpassed other countries in the number of spaces available to professionals because of this mission.
Let’s take a closer look at some of the reasons why Thailand is fast becoming the coworking capital of the world.
The logistics of the space encourages the type of social interaction upon which most of coworking principles have been founded. Typical coworking spaces include hot desks and dedicated desk that can be rented for a reasonable price. However, professionals benefit from the social interaction that becomes a part of the space. Servcorp coworking space Bangkok is a great example of the way many of these spaces are organised.
Many find the coworking space attractive because, in addition to being a lower cost alternative to traditional office leasing, these spaces encourage activities that promote networking. Through networking, professionals, and businesses alike, get the advantage of meeting mentors and people with whom to form partnerships, even if temporarily. Ultimately, these opportunities are the stepping stones to productivity and growth.
For startups, the coworking space makes it possible for businesses to operate on a shoestring budget while accomplishing a variety of tasks more efficiently. Long a favourite of the startup, other populations are beginning to see real value in a workspace design that allows businesses to share office space and make valuable connections. This also true of smaller, more established businesses who want to defray a lot of overhead by using the coworking space format.
Thailand’s coworking spaces are also seeing a surge in larger businesses adopting the office design. These businesses are capitalising on a format that shatters traditional corporate office design and makes for an atmosphere that builds team building. Plus, the coworking space’s cost-effectiveness is not lost on savvy businessmen who are bottom-line budget professionals.
Finally, coworking has become increasingly popular because travellers to the country find it a no hassle, low-cost alternative to reserving space. Travellers use the space to test markets, perform research, and take meetings, in addition to a number of functions. Ultimately, coworking removes the burden and worry regarding where to work when travelling to the country.
Another major reason coworking has become so popular in the country is related to the number of coworking conglomerates that have taken interest in the market. With a lot of funding, these corporations can construct coworking spaces that provide all of the necessary functions of the office. Add to this the fact that advertising and marketing play a huge role in simplifying the hunt for coworking space and attracting customers who might not want to work in a trendy coworking space.
Something For Everyone
Thailand’s coworking market has something for every taste. With both large and niche coworking spaces, professionals can find a space to work in any part of the country. Furthermore, this versatility lends itself to pricing as well, as there are both very inexpensive and concierge plans.
Coworking’s King Capital
Some comment that with the plethora of coworking spaces that there is the possibility of the market being oversupplied with this office space. Others feel that this growth is a natural part of a demand for space that is an alternative to traditional office space. Either way, coworking’s popularity in Thailand has impacted, even changed, the way people work.