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Regus announced results of its study, which predicts a boom in flexible working that could contribute up to $4.2 trillion annually to the U.S. economy by the year 2030. The first-of-its-kind socio-economic study on changing workplace practices studied 16 key countries to delve into the state of flexible working now and through 2030. The analysis was commissioned by Regus and conducted by independent economists.
Regus found that approximately 13% of all employment in the U.S. will be associated with flexible workspaces by 2030. Additionally, the results of the study indicate that the largest increases in flexible employment between 2017 and 2030 are expected to occur in the U.S. (nearly 7.89 million jobs) followed by China (nearly 7.75 million) and then India (2.25 million jobs). Both statistics are the largest figures of any of the 16 key countries analyzed.
Together, the following six sectors are expected to account for nearly 85% of the total value expected to be generated by flexible and remote working in the U.S. by 2030:
- Professional services – 22.1%
- Business support services – 20.8%
- Public administration – 16.8%
- Information & communications services – 11.0%
- Financial services – 7.0%
- Health & Human Social Work – 6.9%
The study also found that flexible working doesn't just benefit economies—it helps individuals and the environment as well. Regus estimates that workers who opt for flexible working in the U.S. could save an additional 861 million hours of time travelled per year by 2030. That is the equivalent of an extra day of vacation for each person working in the U.S. This decrease in transportation could result in an annual savings of nearly 100 million combined tons of carbon dioxide in the U.S. by 2030.
"Our study illustrates that flexible working will save businesses money, reduce operating costs and boost productivity, ultimately causing a ripple effect across economies," said Darin Harris, CEO of IWG U.S. "As the demand for co-working and flexible office space continues to increase, it's exciting to see how flexible working is transforming the way we work and live."
"As this study shows, flexible working offers significant contributions to society, from giving people more of their personal time back, to boosting the economy via job creation and improved productivity," said Steve Lucas, report author from Development Economics. "These projections show flexible working is a strong economic force that businesses and people should embrace in the years to come."
Regus is the world's largest provider of flexible workspace solutions, with a network of 3,000 locations in over 1,000 towns and cities, across more than 100 countries, serving 2.3m members. Through our range of office formats, as well as our growing mobile, virtual office, and workplace recovery businesses, we enable people and businesses to work where, when, and how they want, with a range of price points. Our customers include some of the most successful entrepreneurs, start-ups and multi-billion-dollar corporations.