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New study reveals WeWork helps individuals and businesses thrive, energizes neighborhoods, and accelerates economic growth in 75 cities around the world
There is a revolution at work. For the first time in history, more than half of the world is living in cities—seeking community, purpose, and the opportunity to be a part of something greater than themselves. By 2050, two-thirds of the global population will be urban dwellers.
How we will navigate the future of work and cities to progress toward a new economy—that uplifts all people and all communities—is one of the most important questions of our time.
WeWork answers this call by empowering people and businesses to pursue their purpose, supporting a positive economic ripple effect in our neighborhoods and cities.
Over the past nine years, our members have flourished, and with their success, entrepreneurs have become small businesses, and then big enterprises. The WeWork community is having an impact all over the world, and our members are leading with action, working together to dream up, build, and create the future.
WeWork helps members and businesses to save, grow, and thrive. WeWork provides flexible, high-quality spaces at a significant cost saving. Over a year, a company of four can save $24,000 on occupancy costs, on average, over traditional commercial real estate. WeWork members not only save—their companies grow and thrive: 54 percent credit WeWork with accelerating their company’s growth.
But growth isn’t just about the bottom line. Eighty percent of WeWork members report increased productivity since joining, and in the U.S., members who have started a business are 13 percent more likely to survive after three years than their peers who aren’t WeWork members.
WeWork brings new people, businesses, and economic activity to neighborhoods. Seventy percent of WeWork members are new to the neighborhood, and one in 10 has moved closer to their WeWork locations since joining. This means more business for neighboring shops, cafes, restaurants, and pubs.