---
title: Coworking is back
description: A combination of macro factors have led to a resurgence in coworking.
---

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# [Coworking is back](https://hs-sbup.thehustle.co/news/05202022-coworking)

 Written by [Rob Litterst](https://hs-sbup.thehustle.co/news/author/rob-litterst) | May 20, 2022 6:05:40 AM

For better or worse, coworking is somewhat synonymous with WeWork and Adam Neumann’s ability to use tech-speak to reap billions from investors.

Between its failed IPO in 2019, the onset of the pandemic in 2020, and the release of “WeCrashed,” the AppleTV+ miniseries chronicling the company’s downfall, it’s been a rough couple years for WeWork. More broadly, it’s been rough for coworking as a whole.

But recent trends suggest [coworking is back](https://www.nytimes.com/2022/05/17/technology/coworking-spaces-wework.html), and WeWork is at the center once again, per *The New York Times*.

#### **Coworking…**

… has become increasingly favorable thanks to several macro factors:

- The proliferation of covid vaccines has made the return to office feel safer
- Many workers want to get back to the office, and their companies are looking to fulfill hybrid work environments while still offering flexibility
- Startups facing an uncertain funding environment — the [new normal ](https://news.crunchbase.com/news/na-startup-funding-declines-q1-2022-monthly-recap/)these days — favor short-term leases

#### **As a result…**

… occupancy at WeWork jumped to 67% in Q1 2022, up from 47% a year earlier, and not far from its 72% pre-pandemic level.

The company reported ~500k physical memberships last quarter, up ~25% YoY, and has seen increased demand for its [All Access](https://www.wework.com/solutions/wework-all-access) plan, a monthly membership that allows entry at hundreds of WeWork locations.

But it’s not just WeWork: niche coworking providers are on the rise as well. One reason is that landlords are becoming more open to profit-sharing agreements rather than traditional leases, which allow coworking companies to reduce their monthly payments.

#### **But coworking still has its challenges**

A recent Pew Research study found that 59% of workers who can work remotely want to stay remote, meaning coworking spaces won’t be much of an attraction for them.

Coworking spaces are also at risk for [security issues](https://workspace-connect.com/workspace-strategy/dont-call-it-comeback-coworking-receives-hybrid-work-makeover). In 2019, WeWork was found to have weak WiFi security, which exposed sensitive data on its network.

Even so, some analysts predict there will be ~42k coworking spaces globally in 2024, up 116% from 2020. If that’s the case, “WeCrashed” won’t be the end of WeWork’s story.

[View full post](https://hs-sbup.thehustle.co/news/05202022-coworking)

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