Bookmark & Share
Flexible working in Singapore is expected to contribute $54.8 billion to the city-state’s economy by 2030, up from the current $27.3 billion, according to a study of 16 key markets.
Global workspace provider Regus, which commissioned the study, told the Business Times that the current contribution is equivalent to 6.1 percent of the estimated national output last year.
Other markets covered by the study are Australia, Canada, Austria, France, China, Hong Kong, Germany, Japan, India, the Netherlands, Poland, New Zealand, Switzerland, the United States and the United Kingdom.
In a statement, Regus revealed that 73,000 more jobs are expected to be created by 2030 under the flexible working arrangement.
By then, professional, public administration, business support, information and communication as well as financial and property services are forecasted to account for 83.5 percent of flexible working’s total contribution to the economy.
Regus expects 8.0 to 13 percent of all employment in most developed economies to fall into the flexible working category by 2030.
“Greater levels of flexible working will save businesses money, reduce operating costs and boost productivity — ultimately causing a ripple effect across the economy from core businesses through to supply chains,” it said, while noting that these will contribute to the gross value add (GVA) of flexible working to the economy.
For Singapore, GVA is expected to jump 89.8 percent.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
Related Articles:
Regus is now Singapore’s largest flexible workspace provider
Flexible workspaces soared 44% in 2017
Most CBD flexible workspaces are in Raffles Place and New Downtown