New flexible working option in Kuwait will help businesses work and grow

Kuwait City, 11 October 2011 - The positive economic outlook and growing demand for flexible workspace in Kuwait have inspired global workspace provider Regus to open its first business centre there. The opening in Kuwait - at Kuwait City’s Shayma Tower, one of the capital’s most sought after business addresses -, means Regus now supports businesses in 91 countries worldwide.

With Kuwait’s growth prospects boosted by rising demand for oil and by government plans to diversify the economy, Regus has opened the centre to help businesses maximise their opportunities. The centre will also help them reap the benefits of flexible working. The launch builds on Regus’s recent investment in the Gulf, with openings this year in Dammam, Saudi Arabia, and Abu Dhabi in the UAE.

Mark Dixon, CEO of Regus, explains: “Through our business centres and solutions in the Gulf, we have helped countless local and international businesses to introduce more efficient ways of working, to expand, and to test new markets, all without upfront capital investment in infrastructure. We’re now extending this support to companies in Kuwait.”

The opportunities for businesses in Kuwait are being boosted by the government’s Development Plan, which aims to diversify the economy and expand the role of the private sector. This, combined, with rising oil revenues, means real GDP growth of around 5% is projected for 2011.[1]

Regus’s own research in the Gulf backs this bullish forecast. The Regus Business Confidence Index released earlier this month sees more Gulf companies reporting healthy profit growth (45%) and increasing revenues (55%). Confidence levels are twenty points above the global average.

Regus’s decision to open its first business centre in Kuwait is also backed by changing work patterns across the Gulf. According to Regus research, 81% of businesses globally offer flexible working options to staff. The trend is linked to improved staff productivity, reduced overheads, and improved work-life balance. It is also leading to changes in how companies use real estate.

According to Mark Dixon, “60% of businesses globally believe flexible working is lower cost than fixed-office working. As a result, they want flexible real-estate options, rather than being locked into expensive, fixed-lease deals. As businesses in Kuwait look to grow, the new Regus business centre here offers them a more efficient and more flexible alternative to traditional fixed ways of working.”

[1] ‘Staff report for the 2011 Article IV Consultation’, June 2011, IMF.