Business

Hybrid working could boost towns and villages - study

Towns and villages could see a major financial boost thanks to the growth of hybrid working because of the pandemic, according to a study by IWG and Arup
Towns and villages could see a major financial boost thanks to the growth of hybrid working because of the pandemic, according to a study by IWG and Arup Towns and villages could see a major financial boost thanks to the growth of hybrid working because of the pandemic, according to a study by IWG and Arup

TOWNS and villages across the north could enjoy a financial boost thanks to the growth of hybrid working because of the pandemic, new research suggests.

A UK-wide study by IWG and Arup indicated that rural and suburban economies in the home nations could generate up to an extra £327 million a year, due to the forecasted expansion of flexible office and co-working spaces to meet the growing demand for hybrid work.

It also estimated that more than 4,000 new jobs can be created to support office workers who look to cut down on commuting and work from locations closer to where they live.

IWG said its research suggested that almost half of office workers would quit their job if asked to go back to their office five days a week.

Mark Dixon, chief executive of IWG, which provides flexible work and office space, said: "Over the last 18 months we've seen businesses not only recognise the benefits hybrid working has on their productivity and their bottom line, but this report demonstrates its growing importance to local communities too.

"Throughout the UK we are seeing previously dormitory towns and villages come back to life as workers split their time between home, a local workspace and corporate HQ.

"With hundreds more rural and suburban flexible working locations expected to open in the coming years, we expect a wide range of vibrant local communities develop with thriving businesses at their heart."