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17 November 2019
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LONDON IS TOP CO-WORKING SPOT FOR GEN Z

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Gen Z-ers like modern facilities and décor © iStock

17 October 2019 | Herpreet Kaur Grewal 

 

London is the top destination for Generation Z workers, suggests the 2019 Generation Z city index compiled by apartment search site Nestpick. 

 

London beat New York (86.03) into fifth place as the most popular spot for co-working spaces. In fact, London now has more than 1,400 flexible workspace locations, according to data from global workspace brokerage Office Freedom.

 

Generation Z is the term given to anyone born between 1997 and 2012, a cohort of “digital natives who value security, diversity, and autonomy, and aim to achieve it through pragmatism and determination”.

 

The oldest members of Generation Z graduated from college this year and these cities are becoming career destinations for Gen Z-ers looking for the best places to live and work. The study examined 110 cities and measured 22 factors under four broad headings: digitisation, business, principles, and leisure. Each city was given a score out of 100, the total of the weighted averages of each of the four categories. London and Manchester make it into the top 20.

 

Here are the top 20 cities best equipped for Generation Z’s wants and needs and the year-on-year growth of co-working spaces in each location.

 

City

Gen Z Index

Yr on Yr % Growth in
Co-working Spaces

20. Seattle, USA

77.71

57.1%

19. Brussels, Belgium

77.72

27.8%

18. Malmo, Sweden

78.96

0.0%

17. Frankfurt, Germany

79.35

10.3%

16. Gothenburg, Sweden

 79.46

33.3%

15. Montreal, Canada

80.00

92.9%

14. Helsinki, Finland

80.33

7.7%

13. Copenhagen, Denmark

80.70

20.0%

12. Manchester, UK

81.18

19.2%

11. Paris, France

82.13

31.1%

10. Vancouver, Canada

82.48

37.5%

9. Amsterdam, Netherlands

83.02

28.2%

8. San Francisco, USA

83.09

91.8%

7. Munich, Germany

83.11

5.0%

6. Berlin, Germany

84.53

14.0%

5. New York City, USA

86.03

63.2%

4. Toronto, Canada

86.20

32.2%

3. Los Angeles, USA

89.40

10.4%

2. Stockholm, Sweden

89.88

13.3%

1. London, UK

100.00

16.2%

 

Source: Nestpick.com / Officefreedom.com

 

The growth in flexible workspaces is a common theme among the top 20 Gen Z cities with an average 22 per cent growth in co-working space. The global co-working market has more than doubled since 2015 and is expected to top 25,000 spaces by 2022. Latest research from Zion Market Research values the global flexible workspace market at £20,961 billion and predicts it to grow to almost £88 billion by 2027.

 

Office Freedom recorded a 16.2 per cent year-on-year growth in London co-working spaces between August last year and this, and London remains the co-working capital of Europe with over 11 million square feet of flexible real estate. In London a new co-working space opens every five days, placing it at the top of the global league.

 

Flexible workspace is naturally appealing for entrepreneurial Gen-Z-ers as it represents a low-risk, affordable way into office rental. Companies wishing to attract the best talent from among Generation Z workers should note that although office location is important, office features such as natural light, kitchens, modern facilities and décor, and outdoor space are high on the wish list for Generation Z workers, say the report authors.