Brought by:

Onnik Shahinyan

Data Analyst Lead

The coworking and flex space industry has been on a huge roller coaster – from 2019’s all-time highs to the massive drop in early 2020 and the steady recovery since.

These swings inspired us to create FlexIndex: a novel composite index that tracks the industry’s global trends.

Our data team’s FlexIndex report is also packed with insights, based on data from 1000+ coworking and flex spaces worldwide. Click below to download the latest edition, updated with data for Q1 2022.


What is FlexIndex?

The FlexIndex is a composite index, that provides visibility into the coworking and flex space industry’s health, post-lockdown recovery, and global trends. The index is comprised of 5 components (or KPIs), which represent critical business aspects of both small and large flex operators.
  1. Static Desk Occupancy
  2. Revenue per Available Workspace (RevPAD)
  3. Bookings per Meeting Space
  4. Average Booking Duration per Paid Meeting Space
  5. Booking Revenue per Paid Meeting Space


Each KPI is reported as an indexed value using the 2019 average monthly rates as a baseline valued at 100. For easier interpretation of the index, each KPI has a value of 1 based on the 2019 benchmark. This gives us a value of 5 as a baseline.

Main observations

  • In 2019, the flex space industry was booming, especially during the second half
  • As of May 2022, the flex space market is 4% below the 2019 benchmark
  • Of all five KPIs, Static Desk Occupancy became the first one to surpass the 2019 benchmark
  • RevPAD has recovered well and even surpassed the 2019 benchmark by 3.7% in May 2022
  • In May 2022, all three booking KPIs recovered well after their April decline due to the Easter holidays