Latin America Coworking Spaces Market Size
| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 1.84 Billion |
| Market Size (2030) | USD 3.04 Billion |
| CAGR (2025 - 2030) | 10.64 % |
| Market Concentration | Low |
Major Players.webp "Latin America Coworking Spaces Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Latin America Coworking Spaces Market Analysis
The Latin America Coworking Spaces Market size is estimated at USD 1.84 billion in 2025, and is expected to reach USD 3.04 billion by 2030, at a CAGR of 10.64% during the forecast period (2025-2030).
- The Latin America coworking spaces market is being propelled by a growing demand for flexible work environments, driven by the changing nature of work. With remote and hybrid work models gaining traction, both businesses and freelancers are on the lookout for adaptable office solutions. A recent report forecasts that the number of coworking spaces in Latin America will approach 3,000 by the close of 2024. This surge underscores a strong appetite for shared workspaces, especially in major cities like São Paulo, Mexico City, and Buenos Aires.
- A significant driver of this market is the burgeoning startup and small business scene in the region. Latin America has witnessed a notable uptick in entrepreneurial ventures, with many startups gravitating towards coworking spaces as a budget-friendly alternative to conventional office leases. Take Brazil, for instance: its startup ecosystem has thrived, boasting over 13,000 startups in 2023. This boom has spurred a heightened demand for flexible office solutions, allowing these startups to scale without being tethered to long-term leases. Such dynamics underscore the role of coworking spaces as pivotal centers for innovation and collaboration.
- The COVID-19 pandemic has further catalyzed the move towards remote work, leading companies to reevaluate their office strategies. A growing number of organizations are embracing hybrid models, which, while reducing their overall office space, still necessitate a professional setting for meetings and collaboration. A survey highlighted that 70% of Latin American companies are eyeing hybrid work policies in 2024. This trend not only champions employee flexibility but also boosts productivity, thanks to access to modern amenities and networking avenues.
- In response to this burgeoning demand, major players in the coworking sector are amplifying their presence in Latin America. Companies such as WeWork and Spaces are inaugurating new venues in pivotal regional markets. For instance, WeWork has unveiled plans to launch 10 additional sites in Brazil and Mexico, targeting the swelling population of freelancers and remote workers in search of collaborative spaces. Such expansions signal the confidence of established entities in the promise of the Latin American coworking landscape.
- With an increasing number of businesses acknowledging the advantages of flexible work setups, coworking spaces are poised to play a central role in shaping the future workspace dynamics of Latin America. As this market continues to evolve, it will undoubtedly influence the collaborative and innovative endeavors of professionals throughout the region.
Latin America Coworking Spaces Market Trends
Growth of Coworking Spaces Market in Mexico
Recently, the market has seen a favorable positioning. The surge of startups, especially in urban hubs like Mexico City, has fostered a dynamic environment for coworking spaces. These spaces cater to entrepreneurs who seek collaborative and innovative work settings. For instance, industry associations highlight Mexico's burgeoning startup scene, boasting around 300 fintech startups alongside a host of emerging firms in logistics and technology.
As businesses adapt to evolving work modes, Mexico's coworking spaces market has gained momentum in recent quarters. In 2024, with a more strategic approach, companies are welcoming employees back to the office, bolstering the acceptance of flexible workspaces as a legitimate corporate strategy. Originating in Mexico in 2009, coworking spaces have swiftly become the go-to choice for SMEs, freelancers, and entrepreneurs, offering professional settings without the constraints of traditional leases. As of 2024, urban centers like Mexico City, Monterrey, and Guadalajara remain dominant economic hubs, driving a robust demand for office spaces.
In Mexico City, regions like the "Corredor Tecnológico" (Technology Corridor) have risen as pivotal tech and innovation centers, amplifying the demand for office spaces. Industry Associations reports that, Mexico City's Class A office inventory hit 7.8 million square meters, underscoring the city's expanding office space landscape. Furthermore, with a significant 483,288 square meters set to be delivered in the next two years, the coworking market is poised for substantial growth.
Investors are increasingly eyeing Mexico. A case in point: Hines, a global real estate investment manager, declared in September 2024 that its flexible work platform, The Square, is set to debut in Torre del Ángel, a premier office building in Mexico City. In conclusion, the coworking spaces market in Mexico is on a promising trajectory. The combination of a thriving startup ecosystem, strategic corporate adaptations, and significant investments underscores the sector's potential for continued growth and innovation.
Growing Startups in Latin America boosting the market
In recent years, numerous Latin American nations have bolstered their economic and political stability. This newfound stability has drawn both local and international investors, resulting in heightened funding and backing for startups. The region's startup culture is undergoing a transformation, with a rising number of young entrepreneurs choosing to launch their ventures over following conventional career routes. This shift in mindset has fueled the region's burgeoning startup scene.
Recognizing the crucial role of startups in spurring economic growth, several Latin American governments have introduced initiatives to promote entrepreneurship. These initiatives include tax incentives, grants, and the establishment of startup incubators. For instance, according to data from Crunchbase, investors injected USD 579 million into rounds spanning from seed to growth stages in Q1 2024 in Latin America.
Latin American startups are gaining traction, bolstered by supportive public policies and investments in several countries. Nations like Chile, Colombia, Mexico, and Peru have implemented policies to nurture and expand their startup ecosystems. These policies integrate support services and innovative technologies, such as co-working spaces and crowdfunding, alongside financial plans. Notably, Brazil has emerged as a hotspot for venture capital investments. Highlighting this trend, Woba stands out as a key player in Brazil's co-working sector, which experienced a 22% growth in 2023. With a portfolio of over 2,000 units, Woba holds a dominant position in Brazil's flexible office market.
In conclusion, the growing startup culture in Latin America, supported by favorable government policies and increased investment, is significantly boosting the co-working space market. This trend is expected to continue, driving further growth and innovation in the region's flexible office landscape.
Latin America Coworking Spaces Industry Overview
The coworking spaces market is highly fragmented, with numerous players already established and many more entering to meet the surging demand for casual office environments. Similar to the U.S. landscape, WeWork and IWG (Regus) stand out as the leading players, commanding significant shares of the flexible workspace market across nine key markets, respectively.
Local players like Hot Cowork, Ios, and Iza are also in the game. Some other major players in the market include - Impact Hub, Alley, Knotel, Make Office, Industrious Office, Techspace, Serendipity Labs, and Green Desk.
Latin America Coworking Spaces Market Leaders
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Impact Hub
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Knotel
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Techspace
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WeWork
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IWG/Regus
*Disclaimer: Major Players sorted in no particular order
Latin America Coworking Spaces Market News
- October 2024: Sales Rain Inc. reaffirms its dedication to global expansion by inaugurating a new office in Medellín, Colombia. This marks a pivotal moment in the evolving journey of Sales Rain S.A.S., underscoring its trajectory of growth and achievement. With this strategic initiative, the company bolsters its foothold in Latin America, delivering innovative workspace solutions and broadening its international reach.
- January 2024: According to data from The Instant Group, one of the world's largest marketplaces for flexible workspaces, demand for flexible workspaces in Latin America has surged by 29 percent year-over-year, with Mexico City witnessing an even more pronounced increase of 163 percent. In line with its global marketplace strategy, The Instant Group is entering the Mexico City market. This move will broaden the range of flexible products and services available in the region, encompassing membership plans, virtual offices, meeting rooms, flexible office bookings, managed offices, data, and consulting services.
Latin America Coworking Spaces Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Current Market Overview
4.2 Market Drivers
4.2.1 Rise of the Gig Economy
4.2.2 Changing Work Trends
4.3 Market Restraints
4.3.1 Infrastructure Challenges
4.3.2 Economic Volatility
4.4 Market Opportunities
4.4.1 Partnership with corporates
4.4.2 Value-Added Services
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of Geopolitics and Pandemic on the Market
5. MARKET SEGMENTATION
5.1 By End Use
5.1.1 Information Technology (IT and ITES)
5.1.2 BFSI (Banking, Financial Services and Insurance)
5.1.3 Business Consulting & Professional Services
5.1.4 Other Services (Retail, Lifesciences, Energy, Legal Services)
5.2 By User
5.2.1 Freelancers
5.2.2 Enterprises
5.2.3 Start Ups and Others
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Impact Hub
6.2.2 WeWork
6.2.3 IWG/Regus
6.2.4 Knotel
6.2.5 Alley
6.2.6 Selina
6.2.7 Industrious Office
6.2.8 Techspace
6.2.9 Serendipity Labs
6.2.10 Green Desk*
- *List Not Exhaustive
7. FUTURE OF COWORKING SPACES IN LATIN AMERICA
8. APPENDIX
8.1 Macroeconomic Indicators (GDP Distribution, by Activity)
8.2 Economic Statistics - Transport and Storage Sector Contribution to Economy
8.3 External Trade Statistics - Exports and Imports by Product and by Country of Destination/Origin
Latin America Coworking Spaces Industry Segmentation
Co-working is an arrangement in which people from different companies share an office space. By streamlining equipment usage, we not only cut costs but also enhance accessibility for all. The report provides a comprehensive analysis of the Latin America co-working office space market, detailing an overview, segment-wise market size estimates, emerging trends, and the dynamics at play.
The coworking spaces market in Latin America is segmented By End Use (Information Technology (IT and ITES), BFSI (Banking, Financial Services and Insurance), Business Consulting & Professional Services, Other Services (Retail, Lifesciences, Energy, Legal Services)), By User (Freelancers, Enterprises, Start Ups and Others). The report offers market size and forecast values (USD) for all the above segment is comprehensively covered.
| By End Use | |
| Information Technology (IT and ITES) | |
| BFSI (Banking, Financial Services and Insurance) | |
| Business Consulting & Professional Services | |
| Other Services (Retail, Lifesciences, Energy, Legal Services) |
| By User | |
| Freelancers | |
| Enterprises | |
| Start Ups and Others |
Latin America Coworking Spaces Market Research FAQs
How big is the Latin America Coworking Spaces Market?
The Latin America Coworking Spaces Market size is expected to reach USD 1.84 billion in 2025 and grow at a CAGR of 10.64% to reach USD 3.04 billion by 2030.
What is the current Latin America Coworking Spaces Market size?
In 2025, the Latin America Coworking Spaces Market size is expected to reach USD 1.84 billion.
Who are the key players in Latin America Coworking Spaces Market?
Impact Hub, Knotel, Techspace, WeWork and IWG/Regus are the major companies operating in the Latin America Coworking Spaces Market.
What years does this Latin America Coworking Spaces Market cover, and what was the market size in 2024?
In 2024, the Latin America Coworking Spaces Market size was estimated at USD 1.64 billion. The report covers the Latin America Coworking Spaces Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Latin America Coworking Spaces Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Latin America Coworking Spaces Industry Report
Statistics for the 2025 Latin America Coworking Spaces market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Coworking Spaces analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Latin America Coworking Spaces Market Report Snapshots
