Effects Of Coliving & Coworking on the Travel Industry
Before Covid-19, coworking and coliving were not very known to many people. The norms were to go to the office, sit in a cubicle, and go for a vacation once a year, for which people needed to save for the entire year.
But the pandemic helped people realize they can work from anywhere, be it a sunny beach in Malta or an alimentare in Italy. While the loneliness of working from the office gave rise to coworking, coliving allowed people to live in a more social setting during their travel.
Now, these two terms are changing how people travel, and it is expected to significantly impact the travel industry. Read on to learn the effects of coliving and coworking spaces on the travel industry.
What Has Changed?
There are numerous reasons which caused this change. Some of these are:
- Until 20 years back, the internet was not as speedy and affordable as it is now. With time, having Wi-Fi is a necessity. The advent of 5G and the availability of the internet in every corner of the world has offered people the freedom to work from anywhere. Remote working is a reality now, and many people are adopting this lifestyle because life is too short to fit vacations between work life.
- During Covid-19, the work-from-home or remote work culture took off drastically, and it helped businesses realize that partial remote work can help them save on operational expenses. Besides, it also helped employees work from anywhere, whether in their favorite café or library. Though working from home was depressing, it gave rise to coworking spaces where people could work with others around, and it also improved social interaction for many people.
- The trend of solo and unplanned travel is rising, thanks to increased disposable income. College students and travel enthusiasts are changing the definition of travel, and they need affordable spaces. Coliving spaces are indeed affordable.
Since the three industries are colliding, thanks to the increased travel, coliving and coworking spaces are going to have a great effect on the travel industry.
The Impact on Travel Industry
- Earlier, travel meant going to a place, booking a room, and roaming around alone with a map, but now, people expect more from a travel plan. They want to observe the local culture more closely instead of looking at them like an outsider tourist. They want to experience authentic cuisine, not in a 5-star hotel or restaurant. Usually, coliving spaces are operated by locals, and thus, they can offer a better insight into local travels.
- Travels are no longer a personal affair. People use them to socialize, meet new people, and expand their network. And especially, the new generation is breaking all the norms. People are fearless presently, and being among like-minded people boosts their confidence, helps them learn new skills, and learn about other cultures. Coworking spaces are popular for this very reason. They offer people the chance to expand their network. Numerous stories are floating on the internet, where people met at a coworking space, and it clicked.
- Coliving and coworking spaces are changing travel dynamics, as travel duration has increased from a few days to even months. With affordable accommodation and a semi-professional workplace on a remote island with picturesque sunsets and exotic food, what else does one need? It’s like earning and enjoying life simultaneously. Besides, elongated travel plans mean boosting the local economy of the place. Islands like Malta and Bali are flourishing due to the increased coliving and coworking trend.
- The digital nomad culture has spread its wings and has taken off. More and more people, even professionals other than travel and food bloggers, are taking up the digital nomad lifestyle. Malta even has a Digital Nomad visa which offers people to stay there if they are employed with a company registered outside Malta. It is a great option for people who want to live a nomadic lifestyle.
- If you travel often, you must know that you get bored with hotels and their signature food after a while. Confined spaces, no one to talk to, the same old food, and high tariff all take a toll after a while. Instead, you want to travel like a local, breathing fresh air, sharing spaces with people, and thus, enhancing social horizons, but hotels don’t permit the same. Coliving spaces do. They offer you a private bedroom, but you get a shared living room, kitchen, dining area, and laundry room. So, you can enjoy social interactions while keeping your privacy. It is a win-win.
The changes discussed above are positive ones. The number of travelers has increased over the years. It is an excellent chance for countries and islands that offer peaceful yet luxurious stays for digital nomads. Next time you plan a travel, personal or business, explore your coliving and coworking options before booking a hotel.