The latest research by Regus, the global workplace provider, has revealed that flexible workspaces will contribute over USD 254 bn (EGP 4.09 trn) to local economies in the next decade, Invest-Gate reports.

On average, USD 16.47 mn (EGP 264.4 mn) per annum of Gross Value Add (GVA) is created with an “outer-city” flexible office, of which USD 9.62 mn (EGP 154.4 mn) would be retained by local economies. This is because 218 new jobs are created with a new flex space, 121 of which would be based in the domestic community, according to the Regus recent report, called “The Flex Economy.”

The analysis, commissioned by Regus and conducted by independent economists, studied 19 key countries to delve into the economic and social impact of flexible workspaces in secondary and tertiary cities and suburban areas both now and through to 2029. It pinpointed that a local flex space is set to save a great amount of commuting time per year, alongside 118 metric tonnes of carbon dioxide in the process globally.

“What this study shows is that providing more opportunities for people to work closer to home can have a tremendous effect, not just on them, but on their local area too … When people commute into major cities their wallets commute with them,” Mark Dixon, CEO of Regus’ parent company IWG, was quoted as saying.