Flexible workspaces to contribute $11.5 billion to local Australian economies: Regus

The increasing migration of flexible office space to areas outside of major metropolitan cities globally is creating a ‘flex economy’ that could contribute more than $11.5 billion AUD to local Australian economies, according to a first of its kind Regus study.

They found an individual business centre in Australia would create 222 permanent jobs at a national level (ranking seventh highest out of the 19 countries analysed) and 122 net local jobs.

In Australia, an average business centre will generate $31.21 million AUD in GVA per annum, with $16.87 million AUD going into local economies.

Time saved by employees avoiding the commute would be 8,105 hours per hour, this equates to roughly 337 days or 48 weeks.

By 2029, this means over 80,000 jobs created within business centres across the nation, providing net additional employment opportunities for local residents amounting to over 44,000 jobs, alongside $11.5 billion AUD of annual value, of which $5.99 billion AUD would be retained by local economies.

Steve Lucas of Development Economics, and report author, said “this study reveals a shift in jobs and capital-growth moving outside of city centres, where it has been focused for the last few decades, into suburban locations."

"This can benefit businesses and people, from improving productivity and innovation, to reducing commuting time, which leads to improved health and wellbeing” he said.

Read the full report here.