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Summary
Since 2020, the global business center market has been projected to grow at a CAGR of 6.5% until 2030, driven by rising demand from entrepreneurs and companies for flexible workspace solutions. This growth is further fueled by the escalating trend of co-working, which has been gaining traction due to its flexibility in lease terms. Despite a setback during the COVID-19 pandemic, which saw a significant drop in coworking space usage, the market has experienced a recovery post-pandemic. Italy has seen the spread of business centers primarily in the northern regions, with notable players such as Regus, WeWork, and Talent Garden dominating the market. Regus, for example, boasts 58 locations in Milan alone.
The Italian business center market has evolved steadily, as indicated by the increased number of enterprises within this sector, reaching 93% prevalence of smart working during the lockdown, although anticipated to stabilize at about 59% post-pandemic. Key demand drivers include the need for flexibility, cost control, strategic locations, and various tailored services. Business centers cater to various segments, including SMEs, freelancers, startups, companies conducting short-term activities, small law firms, and tax consultants.
Business Centers: The Evolving Landscape of Professional Workspaces in Italy
In recent years, the landscape of professional workspaces in Italy has seen a significant transformation. The demand for business centers, which provide flexible and fully equipped office spaces, has escalated notably. Initially adopted by freelancers and journalists who valued mobility, the concept has progressively been embraced by a wider spectrum of the professional community, including startups, task forces, and departments of large corporations. The proliferation of business centers across Italy has responded to a growing desire for adaptable working environments, a trend further accelerated by the Covid-19 pandemic. Italian business centers are part of a burgeoning global market anticipated to expand at an annual rate of between 5 and 7 percent. These facilities began gaining traction in the northern regions, particularly in major cities such as Milan, which alone boasts nearly 60 business centers. The market structure is dominated by leading players such as Regus, with a robust presence in Italy, WeWork, a significant international contender, and Talent Garden, which uniquely intertwines coworking spaces with education through its Innovation School.
As of 2020, there are well over 500 business centers catering to more than half a million employees, indicating a vibrant and growing sector. The economic impact of these business centers is reflected in the millions of euros they generate annually. The drivers of demand for these spaces include the fusion of professional needs and personal preferences of modern workers. Amidst the backdrop of flexible employment practices, business centers offer numerous advantages: strategic city-center locations, cost control benefits, reduction in administrative burdens, and networking opportunities. Looking at the clientele, business centers cast a broad net, gathering interest from various entities. These range from small and medium-sized enterprises to freelancers—who represent the largest number of European freelancers in Italy—and innovative startups that continue to crop up in the thousands annually, especially in Lombardy. Even law firms and tax consultancies find value in business centers due to the administrative support offered. This implies a vibrant sector, albeit one that still requires efforts to enhance awareness of the benefits these centers offer. With an ever-evolving workforce seeking both functionality and flexibility in professional spaces, business centers stand poised to meet these emerging trends and adapt accordingly, shaping the future of work environments in Italy.
Leading Business Center Companies Making Waves in Italy
Italy's business center landscape is marked by prominent companies, each with a unique approach to providing flexible workspaces and community-focused environments that cater to contemporary professional needs. Let’s delve into the profiles of the key players that are setting the standard for business centers in Italy.
- Regus: The Global Titan with Local Impact Regus stands tall as a global giant, having pioneered the concept of flexible workspaces. Since its inception in Brussels, it has expanded its reach to 106 countries, offering over 2,300 business centers worldwide. Its significant presence in Italy is hard to miss, with 97 locations spanning across the country, from Milan in the north to Sicily in the south. Regus differentiates itself with its franchise model, introduced in Italy in 2019, which opens doors for local entrepreneurs to tap into its vast experience and established market presence. The rich array of services provided by Regus, coupled with its strategic locations, caters to a diverse clientele that includes large corporations, small businesses, and freelancers alike.
- WeWork: The Modern Pioneer of Co-working WeWork, an American company, that has revolutionized the concept of co-working spaces globally, made its Italian debut in 2020, selecting Milan as its entry point. Despite its relatively recent arrival, WeWork has quickly become a key player in the Italian market. Its focus on design-centric, inspirational environments acts as fertile grounds for startups, entrepreneurs, and creative professionals seeking collaborative and vibrant workspaces. With an emphasis on community and flexibility, WeWork's innovative approach provides more than just a workspace; it offers a lifestyle that aligns with the dynamic nature of modern work culture.
- Talent Garden: Fostering Digital Talent and Innovation Rooted in Italian soil, Talent Garden was established in Brescia in 2011 by Davide Dattoli with a vision to support and connect digital and technology professionals. This Italian network has expanded beyond the national borders into seven European countries, promoting an intersection of workspaces and educational opportunities. Talent Garden stands out with its community-centric model, encouraging interaction and collaboration among its members. Through its Innovation School, it offers a wide range of educational programs aimed at enhancing the skills of individuals and businesses alike in the digital age. The company's unique commitment to nurturing digital ecosystems differentiates it from its counterparts and solidifies its position as a leader in Italy's business center scene.
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- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 12/07/2023
Summary and extracts
1 Market Overview
1.1 Definition and presentation
A business center is a place where companies can rent offices or rooms to host meetings and events. It is part of the category of so-called third locations-shared and collaborative workspaces characterized by a high level of flexibility. However, a business center differs from other third locations in its seniority and very comprehensive offerings. In fact, it is usually fully equipped, intended to be rented by companies for a variable period of time. In Italy, business centers first emerged in 2010, mainly in large cities located in the northern regions of the country. At first people looked at them with a sense of uncertainty, not realizing at all the enormous potential that such a new way of working would bring in the years to come. But then, year after year, business centers gained much acceptance in society, and their establishment spread throughout the country. So while at first these spaces were used only by freelancers and journalists, who could easily change the place where they worked, a growing number of start-ups, task forces and departments of large companies have moved to adopt this innovative solution. Thus, business centers are now an established alternative to the traditional office and working from home in Italy. Almost a year after the Covid-19 emergence, the spread of co-working spaces is resuming its upward trend, in part because of the greater level of flexibility that people currently seek. Today, more than 700 co-working spaces can be counted, serving a total number of 570,000 employees.
In Italy, the most important business centers are Regus, which has 58 buildings located in the city of Milan, WeWork and Talent Garden, which has spaces in the most important Italian cities.
List of charts
- Turnover from the provision of integrated support services for office functions
- Breakdown by legal form of the number of companies active in the temporary office and residence office management sector
- Number of companies active in the field of temporary office and residence office management
- Companies using smart working (standard or emergency)
- Annual turnover of the company Regus Business Centres Italia S.r.l
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Latest news
WeWork leaves La Défense - 18/01/2024
- The WeWork site at 30 Terrasse Bellini in Puteaux, the only one in La Défense, recently closed its doors.
- Despite the closure at La Défense, the company says it intends to maintain a strong presence in Paris, where it has 14 possible sites.
Coworking: Regus moves into "up-On" in Montrouge - 25/10/2023
- IWG opened more than 600 new sites worldwide in one year.
- IWG opened 13 new sites in France between January and September 2023.
- The "up-On" building, where IWG recently established a site, is located at two different addresses: one in Montrouge (Hauts-de-Seine), the other in Paris.
Offices: coworking expands regionally - 16/02/2023
- Coworking, the offering of shared offices with services, first developed in Paris
- By 2022, the coworking market was largely driven by regional development
- WeWork , the number one coworking company in France with its Regus, Spaces, HQ and Signature spaces, operates just over 130 sites in 78 cities.
- Coworking accounts for less than 5% of contracts signed in France in terms of office space take-up
IWG has declared France a teleworking and co-working paradise. - 18/08/2022
- World leader in co-working spaces
- More than 130 centers in France, the Group's second-largest market after the United States
- 45% increase in visits to French centers in the first half of 2022
- More than 3,300 sites in 175 countries
- Sales of €2.7 billion in 2021
- Telecommuting accounts for 29% of business
- IWG relies on a franchise development strategy to "build the world's leading provider of digital workspaces".
- The holding company employs over 12,000 people
- Opened 70 new sites in the first half of the year, of which 76% are franchises
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