Coliving spaces are transforming housing while boosting local economies. Here's how they support local businesses:
- Collaborations with Local Vendors: By sourcing food, furniture, and services locally, coliving spaces keep money in the community and reduce environmental impact.
- Business Directories: They create digital and physical guides to connect residents with nearby businesses, increasing foot traffic and sales.
- Event Spaces: Coliving venues host pop-ups, markets, and cultural events, offering platforms for local entrepreneurs and artists.
- Word-of-Mouth Marketing: Residents naturally promote neighborhood businesses through recommendations and social media.
- Job Creation: Coliving spaces hire locally, providing stable jobs in operations, maintenance, and community engagement.
These efforts not only drive economic activity but also strengthen community ties, making coliving a win-win for residents and local businesses alike.
Local Economic Impact of Coliving
Coliving spaces bring a boost to local economies through direct spending and meaningful community involvement. These benefits are clearly reflected in the actions of prominent coliving providers.
Take Folk Co-living, for example. In 2024, they made a significant impact by donating 135 kg of food to neighborhood food banks and hosting 27 community events. They also offered free event spaces to local community partners, contributing an estimated $25,500 in value to the community.
Nomadico provides another example with its February 2025 partnership with Global Nomad Pass. This collaboration gave guests access to exclusive discounts at more than 500 local businesses across 25+ destinations. As a result, spending was funneled into local cafes, restaurants, and cultural experiences.
EcoIsleta in Las Palmas also plays a role in supporting the local economy by organizing neighborhood walks. These events encourage residents to explore and support nearby businesses, all while fostering a sense of community.
In cities, the economic effect of coliving is especially noticeable. These spaces often attract professionals and entrepreneurs who not only spend locally but also contribute to innovation. Many coliving communities promote knowledge sharing, entrepreneurship, and job creation, making them hubs of economic activity.
Platforms like Coliving.com amplify these benefits by connecting people with flexible, all-inclusive coliving spaces in over 350 cities. This helps channel economic activity into local communities, benefiting small businesses and supporting cultural initiatives.
Additionally, many coliving spaces implement pricing strategies that address community needs. By offering affordable housing options for essential workers, such as healthcare professionals from nearby hospitals, these spaces help strengthen local economic stability.
1. Local Supply Chain Partnerships
Coliving spaces play a key role in supporting local economies by collaborating with nearby suppliers, which helps small businesses thrive and strengthens community bonds.
Take Open Field Co-Living, for example. They've partnered with local farms to source fresh produce and kickstart local food production. This not only bolsters agriculture in the area but also cuts down on transportation distances, promoting a more eco-friendly approach.
Here's an eye-opening stat: spending $100 locally generates 70% more economic activity compared to spending at chain retailers. Local businesses return 52% of their revenue to the community, while chains contribute just 14%. These benefits span various sectors:
| Category | Local Sourcing Examples | Community Benefits |
|---|---|---|
| Food & Beverages | Local farms, bakeries, coffee roasters | Fresher products, fewer transportation emissions |
| Furniture | Local craftsmen, woodworkers | Unique designs, support for artisanal trades |
| Cleaning Supplies | Local eco-friendly manufacturers | Lower shipping costs, quicker restocking |
| Maintenance Services | Local contractors, repair shops | Faster service, more local job opportunities |
By prioritizing local sourcing, coliving spaces not only keep money circulating within the community but also create a safety net against global supply chain disruptions. During recent challenges in global logistics, spaces with strong local partnerships were able to maintain smoother operations.
These collaborations go beyond just economic benefits. They foster knowledge sharing and deeper connections. Many coliving spaces host events where residents can meet local suppliers, learn about their products, and build stronger ties with the community. These efforts often serve as a springboard for other community-focused initiatives, making the impact even more meaningful.
2. Local Business Directories
Coliving spaces are reshaping how residents connect with local businesses by offering both digital and physical directories. These guides act like modern-day town squares, making it easy for members to discover and support nearby establishments while fostering a stronger sense of community. This approach fits seamlessly into the broader strategies of coliving spaces.
Did you know that "near me" searches have skyrocketed by 150%, with 97% of users turning to the internet to find local businesses? Coliving spaces are tapping into this trend by creating directories that benefit everyone - residents gain convenience, and local businesses see more traffic.
Take, for example, the City of Port St. Lucie’s small business directory. It’s a great model that shows how highlighting special offers and detailed business information can create direct connections between residents and local services.
Matthias Zeitler, founder of Coworking Bansko and Coliving Semkovo, has taken a creative approach to member directories, showcasing how they strengthen community ties:
| Directory Feature | Benefits for Residents | Business Impact |
|---|---|---|
| Digital Maps | Easy navigation to nearby services | Increased foot traffic |
| Special Offers Section | Exclusive resident discounts | Higher customer retention |
| Event Calendar | Access to local activities | Broader event attendance |
| Service Categories | Quick access to essential services | Targeted customer reach |
Experts also back up this strategy.
"A strong brand identity can really help a company build a 'tribe' of customers who start naturally gravitating towards it because they believe in its long-term vision."
- Carlo Benigni
Coliving spaces organize these directories into clear categories to meet everyday needs. Here’s how they break it down:
| Category | Types of Businesses | Community Value |
|---|---|---|
| Essential Services | Grocers, pharmacies, medical clinics | Daily necessities |
| Lifestyle & Wellness | Gyms, yoga studios, health food stores | Health and fitness |
| Entertainment | Cafes, restaurants, cultural venues | Social connection |
| Professional Services | Coworking spaces, print shops, tech repair | Business support |
These directories don’t just make life easier for residents - they also help local businesses thrive, creating a win-win for everyone involved.
3. Community Event Spaces
Coliving spaces are evolving into vibrant hubs where businesses and audiences come together through dedicated event spaces. These venues not only open up revenue streams for entrepreneurs but also enhance the resident experience by fostering a sense of community.
Take Vitanovae, for instance. They introduced "Cuisine de Camille", a shared kitchen that welcomes neighborhood chefs. This initiative highlights how such spaces can bolster local economies by giving chefs a platform to showcase their culinary skills and share authentic dishes with the community.
Here’s how coliving spaces are leveraging their event spaces to support local businesses:
| Event Type | Revenue Opportunity | Community Impact |
|---|---|---|
| Pop-up Markets | Local artisans sell their crafts | Direct sales and brand exposure |
| Culinary Events | Chefs host unique dining experiences | Strengthens farm-to-table links |
| Cultural Festivals | Artists and performers gain visibility | Encourages cultural exchange |
Ruralco provides a great example by hosting craft markets, music festivals, and film screenings that shine a spotlight on local talent. They’ve partnered with food producers, supporting local honey makers, mead brewers, and artisanal cheese and yogurt suppliers.
"Many coliving spaces are forming partnerships with local businesses to offer residents unique services and products. From farm to table dining experiences to locally sourced furnishings, these collaborations help residents feel more connected to their surroundings and support the local economy." - Martin Fleischer
The Hive Collective in San Francisco has taken things a step further by transforming common areas into pop-up galleries. This approach not only enriches the lives of residents but also helps local artists gain exposure, creating a ripple effect of positive word-of-mouth.
Event spaces in coliving communities illustrate how shared venues can strengthen local connections while generating economic benefits. These spaces are becoming key players in fostering community growth and collaboration.
4. Word-of-Mouth Marketing
When coliving residents recommend local businesses, it creates a ripple effect that’s hard to beat. Research shows that consumers are seven times more likely to trust personal recommendations over traditional advertising. Let’s look at how this plays out in real life.
Take Folk Co-living’s community events, like their standout Winter Fayre in 2024. This event brought local businesses face-to-face with residents, creating a natural platform for organic endorsements. These events don’t just showcase businesses - they help residents discover hidden gems in the neighborhood and share them with their own networks.
| Marketing Channel | Business Impact | Community Benefit |
|---|---|---|
| Resident Social Media | Genuine content sharing | Real-time, trusted recommendations |
| Community Events | Direct exposure for businesses | Easy access to local services |
| Resident Referrals | Personal endorsements | Special discounts for residents |
Coliving communities take things a step further by setting up partnerships that benefit everyone. For example, offering residents a 10% discount at a local coffee shop not only enhances their experience but also ensures a steady stream of customers for the business.
"Word of mouth consists of combining an outstanding level of service with active communication. It rarely happens automatically, even though it can appear to be magical. Most often, it is a result of a well-implemented communication plan. Keep consistently talking to your customers, sharing stories and offering value (e.g. 'how-to' articles on accomplishing something important for young professionals in your location cities) to them on your website and Instagram." - Bidrento's client
As residents dive into the local scene, they naturally share their positive experiences - whether it’s with their neighbors, visiting friends, or online followers. This kind of organic buzz extends far beyond the coliving space.
The impact isn’t just short-term exposure. It builds lasting connections between businesses and the community:
- Trusted Recommendations: Locals and newcomers alike trust endorsements from real residents.
- Wider Reach: Social media amplifies word-of-mouth, making businesses visible to a larger audience.
- Consistent Support: Regular visits from residents create a dependable customer base.
- Community Connection: Local businesses become an essential part of the coliving ecosystem.
This genuine advocacy strengthens both the local economy and the social ties within the community.
5. Local Employment
Coliving spaces play a big role in boosting local job opportunities. Take Folk Co-living, for example - they hire a third of their on-site staff directly from the local community. This approach not only strengthens the local economy but also creates a diverse range of jobs across various departments and skill levels.
| Job Category | Typical Roles | Community Impact |
|---|---|---|
| Operations | Property Managers, Front Desk Agents | Better support for residents |
| Maintenance | Technicians, Facilities Managers | Expertise in building upkeep |
| Community | Event Planners, Community Facilitators | Stronger local engagement |
| Hospitality | Housekeepers, Service Staff | Smooth daily operations |
One staff member shared their enthusiasm for the unique work environment:
"There's something very special about the community here. Working with our residents to craft our events schedule makes it feel really unique, and their passion for getting involved and sharing their skills inspires me and makes my work even more fulfilling."
The high occupancy rates of coliving spaces - often exceeding 87% and sometimes reaching as high as 97% - ensure steady, long-term employment for locals. For instance, Enclave Coliving in Atlanta, GA, employs a variety of staff across operations, property management, acquisitions, community engagement, and maintenance. This comprehensive hiring strategy supports the local workforce while maintaining seamless operations.
Local employees bring valuable neighborhood knowledge to their roles, which helps strengthen ties between coliving residents and the surrounding area. Their insights contribute to:
- Building relationships with nearby businesses
- Recommending authentic local activities and experiences
- Helping residents integrate into the community
- Managing neighborhood relations effectively
This focus on hiring locally also enhances staff well-being. Enna, a staff member from the UK, shared her perspective:
"This job compared to all the others, it's a lot better on the mental health side."
What next?
Coliving spaces are proving to be powerful catalysts for local economic growth. Through partnerships, community-driven events, and job creation, they contribute significantly to their neighborhoods. For instance, in 2024, Folk Co-living donated around 300 pounds of food, hosted 27 community events, and offered free event spaces valued at over $25,000. These numbers highlight the tangible ways coliving spaces make a difference.
By focusing on community needs and adapting to changing urban work trends, these spaces help sustain lively commercial areas. Freddie Fforde, founder of Patch, captures this sentiment perfectly:
"A new category to describe what we can achieve by reinvesting our time, money, and talent into places and people near where we live."
From strengthening local supply chains to fostering deeper community connections, coliving plays a key role in driving local prosperity. With urbanization on the rise - and estimates suggesting two-thirds of the global population will live in cities by 2050 - the potential for coliving to make an even greater impact is immense.
Interested in being part of this movement? Visit Coliving.com to explore thoughtfully curated spaces that not only provide comfortable, all-inclusive living but also promote genuine local engagement. These partnerships benefit both residents and businesses, helping to build thriving, interconnected communities.
FAQs
How do coliving spaces boost local economies and foster community connections?
Coliving spaces play an important role in boosting local economies and strengthening community ties. By purchasing goods and services from nearby businesses, they help drive economic activity and open doors for local vendors. Many coliving spaces also organize events that highlight the talents of local artisans, showcase nearby restaurants, and introduce various services, encouraging residents to connect with and support the area around them.
But the impact of coliving goes beyond just economics. These spaces foster a sense of belonging and connection among residents and their neighbors. Through collaboration, shared resources, and networking opportunities, they create an environment where people can build lasting relationships and even start new projects together. This blend of economic support and community-building makes coliving spaces a meaningful addition to any neighborhood.
How do coliving spaces benefit local businesses and boost the economy?
Coliving spaces play an important role in boosting local businesses and strengthening the economy by building strong community ties. Many coliving operators team up with nearby vendors to offer residents special perks, like locally sourced food or unique furnishings. This approach not only improves the overall living experience but also ensures that money flows back into the local economy.
On top of that, people living in coliving spaces tend to shop at nearby stores, eat at local restaurants, and use services in the area. The convenience and community-driven vibe of these spaces encourage residents to engage with their surroundings. This increased foot traffic and spending help fuel economic growth and breathe new life into urban neighborhoods.
How do coliving spaces help create jobs in local communities?
Coliving spaces play a key role in boosting local economies by generating demand for nearby businesses like restaurants, cafes, and shops. Residents of these spaces often immerse themselves in their neighborhoods, actively supporting these establishments. On top of that, many coliving spaces organize events and activities, which opens up work opportunities for event staff and service providers.
These spaces also tend to collaborate with local businesses to provide services and amenities, creating stronger ties within the community while contributing to economic growth. By attracting professionals and entrepreneurs, coliving spaces introduce fresh perspectives and investments, which can further energize the local economy.
