Latin America Coworking Spaces Market Size

Latin America Co-Working Spaces Market Analysis

The Latin America Coworking Spaces Market size is estimated at USD 1.66 billion in 2024, and is expected to reach USD 1.91 billion by 2029, growing at a CAGR of greater than 10.64% during the forecast period (2024-2029).

• Latin America has witnessed a surge in entrepreneurial and startup activity, with many new businesses and ventures launched across various industries. Coworking spaces provide flexible and cost-effective solutions for these startups, offering them a professional workspace without the burden of traditional office lease commitments. A source claims that between 2019 and 2022, there will be a roughly 30% growth in the number of businesses providing coworking services in Mexico. With 86% of coworking offices being class A+ and A up until the first quarter of 2023, this business model prioritizes high-quality facilities.
• Latin American nations have made investments throughout the years to upgrade infrastructure, including telecommunications and technology. Because of this, it is now simpler for coworking spaces to offer dependable internet access, which is essential for businesspeople using these spaces. The gig economy is flourishing in Latin America, with a growing number of freelancers, independent contractors, and self-employed professionals. Coworking spaces cater to this demographic, offering a shared environment that fosters networking and collaboration. The millennial generation and the growing startup culture create the need for low-cost, flexible coworking spaces worldwide.