MANILA - Millennials who prefer flexibility in work schedules are driving the growth of the co-working property development business in the country, the chief of Regus Philippines said on Friday.
"It was the employees themselves, especially millennials, that insisted on flexible working, the ability to work whenever they like," Regus Philippines Country Manager Lars Wittig told ANC.
Regus is the world's largest provider of flexible workspace solutions.
Shared office spaces developed by Regus Philippines provide basic amenities such as tables, Wi-Fi and other office facilities to travelers and other employees who follow flexible working hours.
Employers are naturally forced to adapt to the co-working trend to retain young talents, he said.
"Millennials are very successful so employers, of course, would also like to attract and retain them and the only way to do so is basically to embrace flexible working or co-working," he said.
Wittig said Regus Philippines has received 32 percent more inquiries this month, compared to inquiries in March last year.
He expects the global take-up of co-working office spaces to reach 30 percent in 2030 from 1 to 2 percent today.
Wittig said technology and artificial intelligence, which allow millennials to work from anywhere, also fuel the growth of the co-working sector.
Regus Philippines, which has a presence in Davao, Clark and Cebu, is looking at other key regions like General Santos City, Cagayan De Oro, Iloilo, Naga, Subic and Baguio, among others, to develop co-working spaces there.