India to Become IWG’s Fastest-Growing Market with Bold 5-Year Growth Push

The International Workplace Group (IWG), which owns popular co-working brands like Regus and Spaces, has revealed plans to make India its third-largest market globally in terms of co-working centre count within the next 3 to 5 years. This update was shared by Marc Descrozaille, IWG’s Regional CEO for Asia-Pacific, Middle East & Africa, during a conversation with The Economic Times.

300 New Centres Needed to Reach Milestone

India, which currently has 105 IWG-operated centres, is poised to see a sharp rise with 40 more centres expected to be added in 2025 alone. To break into the global top three, the firm would need to expand by approximately 300 more centres. According to Descrozaille, the target is ambitious but achievable.

India Leads IWG Growth in Asia-Pacific

While India already ranks among IWG's top 15 countries in terms of centre count, it is now the fastest-growing market in the entire Asia-Pacific region. The company sees India’s rising demand for hybrid workspaces and enterprise flexibility as key drivers of this expansion.

Economic Uncertainty Fuelling Demand

Descrozaille also highlighted how economic uncertainties are pushing companies to reconsider owning or leasing office properties. Instead, many are turning to flexible office solutions to stay agile and reduce fixed costs. “When there is uncertainty, companies refocus on their core businesses. Owning or renting traditional office space isn't core for most,” he explained.

Global Numbers Reflect Upbeat Outlook

IWG’s 2024 numbers back its aggressive India strategy:

• 899 new centre signings
• 624 centre openings
• $557 million in EBITDA
• Net debt down to $712 million
• Presence in 120+ countries with 4,000 workspaces globally

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