Analysis and Post-COVID-19 Prospect of Coworking Spaces in Valencia (Spain)

Abstract

Coworking spaces (CWSs), as modern social work environments, provide flexible work infrastructure and dedicated space to facilitate professional and social interaction, which was found to stimulate entrepreneurship and creativity, creating well-constructed opportunities for social support. The number of CWS has been increasing rapidly around the world, particularly since the Great Recession of 2008. The incidence of COVID-19 pandemic has made teleworking the only possible reality for the operation of many companies and freelancers. However, as confinement restrictions soften, an increase in the need for coworking spaces has been observed since, in many cases, teleworking at home is not possible, it is not the most efficient mode of work, and there is a desire to separate home from work-life. In this context of postpandemic return to the office, new opportunities are being created, and CWS can become an attractive and lucrative business model and real estate strategy. The study presented in this paper is focused on the city of Valencia (Eastern Spain), which is considered to be the third most important city in Spain, having a population of nearly 800,000 inhabitants and a size of 135 km2. The manuscript presents the results of a specific survey conducted both to users and coworking managers, and based on those results, the optimal locations for possible future coworking spaces using a geographical information system and statistical population information are defined.