London has been named the world's coworking capital, according to a new report by Business Name Generator (BNG). The report evaluated 53 cities worldwide on several factors, such as travel times, costs, number of coworking spaces, average monthly costs, and internet speed. London came in first, with Singapore and Berlin following in second and third place, respectively, but with far fewer coworking spaces available.
London boasts an impressive 1,322 coworking spaces and is the most in-demand city, with an average of 4,400 monthly searches. However, the average monthly cost per desk in London is £267 (approximately $332), which is 35% higher than all other cities in the top 10. Singapore and Berlin have 214 and 192 coworking spaces, respectively, which are significantly fewer than London.
The top 10 cities for coworking are London, Singapore, Berlin, Bangkok, Toronto, Chicago, Montreal, Barcelona, Madrid, and Copenhagen. San Francisco places fifteenth on the list, with only 81 coworking spaces available despite a high monthly search volume of 2,400. San Francisco also has the highest price tag for coworking spaces, at an average of $389 per desk.
Market analysts predict that by 2024, five million people will be based in coworking spaces, representing a 158% increase from today. According to BNG's report, these cities are best positioned to meet the growing demand for coworking spaces.
The study also examined the best cities for commuters based on travel times and costs. Doha, Qatar, was found to be the best commuter city, with a one-way ticket on public transport costing $0.60 on average and a liter of gasoline only slightly more expensive at $0.61. Commuters using public transportation can expect to wait just three minutes for transport, and their average commute time is a very short 30 minutes.
Abu Dhabi ranks second on the list, with an average time lost per year to a traffic of 25 hours, an average cost of petrol per liter of $0.60, and a one-way ticket on public transport costing just $0.59. Commuters can expect a slightly longer average commute time of 45 minutes, but the wait time for public transportation is only 13 minutes.
Other cities that ranked highly on the list of the best commuter cities include Taipei, Prague, and Kuala Lumpur. Overall, the report found that the cities that ranked highly for coworking were not necessarily the same cities that were the best for commuting.
The BNG study highlights the importance of considering various factors when selecting a city for coworking or commuting. By analyzing data related to coworking spaces and commuting, individuals can make informed decisions about where to live and work. As the number of people using coworking spaces continues to rise, cities that can offer a balance of affordable coworking spaces and efficient commuting options will be increasingly sought after.
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