Global Occupancy Benchmarks Report
Trends & Benchmarks from Studying 144 Offices Worldwide
Executive Summary
Many companies are now firming up their Return to Office policies, which is reshaping corporate culture in significant ways. While it’s challenging to predict the long-term effects due to ongoing changes, leveraging current data and trends can help strike a balance between optimizing operations and enhancing employee engagement. This redefined approach can strengthen your workplace value proposition, making it more attractive and efficient.
Basking.io has conducted an extensive study, analyzing global workplace occupancy data. Our report offers an unprecedented look at how companies are managing their office spaces and which strategies are proving most effective.
Basking collected data from 144 offices worldwide, primarily from the Professional Services, Investment Management, Biotech, Tech and IT services industries, to establish office utilization benchmarks. The offices are distributed across regions as follows: 38% in EMEA, 35% in North America, 17% in APAC, and 10% in LATAM.
Key RTO policy Impacts Q2 2024
APAC reached the highest occupancy rate since the pandemic
"Coffee badging" and "task-specific" visits mark a new trend toward shorter office visits
Visiting the office 2-3 days a week has become a common trend worldwide, with a strong midweek preference persisting
LATAM and APAC employees are more willing to return to the office at the request of companies
The global workplace continues to evolve, and office occupancy data provides invaluable insights for strategic decision-making. Understanding regional differences and emerging trends in office space utilization enables companies to optimize their return-to-office policies and enhance operational efficiency. A comprehensive analysis of the current state of office occupancy worldwide reveals key trends and their implications for businesses across various sectors and regions.
Why this report is important to you
Get the latest data on global office occupancy trends
Benchmark your company against industry leaders
Find out which office re-entry strategies are successful
APAC’s Occupancy Rate Reached 62% in May, Highest since The Pandemic
In Q2 2024, LATAM’s weekly peak occupancy rose by 24 points, and APAC reached 62% after a 16-point increase. North America and Europe remained stable at 35% and 28%, respectively, with minimal change from Q1 2024.
The weekly average of ‘Daily Peak Occupancy’ relative to the capacity of the office. It helps answer “On average, how does the peak occupancy compare to the office’s capacity per week?”
APAC and LATAM observed over 8-point decline in ‘Once a week’ visits in Q2 2024
In Q2 2024, APAC and LATAM saw declines of 8 points and 9 points in ‘Once a week’ visits compared to Q1 2024.
North America and Europe showed no significant change in office visit frequency.
Frequency of Visits represents the frequency with which people visit the office in a week. Note: If a person visits an office once in two different weeks, the “once a week” category would include both of the visits.
Mondays and Fridays remain unpopular for office visits
globally in Q2 2024
In Q2 2024, APAC and LATAM observed an increase in office visits by 1 to 2 points on Mondays and Fridays.
It represents the popular weekdays for people to visit offices in a defined period. Note: If a person visits the office on “Tuesday” in two different weeks, the “Tuesday” bin would include both of the visits.
LATAM observed 13-point decline in OVI, approaching stable occupancy
Due to an increase in visits on Mondays and Fridays, LATAM observed a 13-point decline in OVI, reaching 27%, indicating more stable occupancy throughout the week.
Similar to other KPIs, North America and Europe showed little variance in OVI compared to Q1 2024.
OVI represents the variance in office visits across the week and is calculated as the Standard Deviation of the Weekly Percentage of Visits divided by the Average Percentage of Visits. A high OVI indicates significant variability in occupancy throughout the week, while a low OVI suggests stability.
Rising “Coffee-Badging” and Task-Specific Visits Globally
An increase in occupancy rate along with a rise in short to medium duration visits suggests “task-specific visits” or “coffee badging” across all regions in Q2 2024 compared to Q1 2024.
It represents the time people spent in the office for a defined period. Note: If a person visits an office for 1 hour on two different days, the “1” hour bin would include both of the visits.
Unlocking Cost Savings: Insights from Global Return to Office Trends
In Q2 2024, APAC and LATAM regions demonstrated strong adherence to Return to Office (RTO) mandates, creating significant opportunities for optimizing office portfolios in North America and Europe countries. With the high prevalence of remote work there, businesses can capitalize on these insights to rightsize their office spaces, leading to substantial cost savings.
North American and European offices, often more expensive and demanding additional amenities, present a prime opportunity for cost reduction. By strategically optimizing office space and reassessing real estate investments, companies can reduce operational expenses and enhance their workplace efficiency.
Keep up with Emerging Trends: Learn about the shift towards short, task-specific visits and how they can influence your workplace strategy.
Know more about:
- Peak Office Days power: Our report shows consistent trends and patterns of peak attendance. Learn how companies are using this pattern to create dynamic collaboration spaces and energy-efficient practices.
- From North America to Asia-Pacific: Uncover regional trends that could impact your global office strategy. Our report provides a detailed breakdown of occupancy rates across different continents.
- The New 9-to-5: Find out where employees prefer longer, more focused work sessions and where they prefer shorter but frequent visits.
Explore how much you can save by aligning your strategies with these global trends, ensuring your business remains agile and competitive in a rapidly evolving work environment.
Revolutionize Your Office Utilization: Global Trends Revealed
Uncover critical office occupancy patterns across sectors and assess your organization’s position in the changing work landscape. Detailed analytics available in our full report.
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