Vantage Space Global Trends Report: Q1 2024

1: Global Average Occupancy

Q1 2024 saw global average occupancy holding steady at 36.0%, identical to the previous quarter (Q4 2023). Regional variations show EMEA maintaining the highest occupancy at 42.0%, also unchanged. APAC experienced a slight decline to 31.0% (-2.0% from Q4 2023), while AMER saw a marginal increase to 34.0% (+1.0% from Q4 2023). The overall stability suggests that return-to-office patterns established in late 2023 largely persisted into the new year, though minor regional fluctuations continue. Passive occupancy remains a significant component, indicating ongoing prevalence of hybrid models and assigned seating.

Table 1: Average Occupancy by Region. Note: The percentage changes are calculated based on the previous quarter’s data.

2: Average Occupancy by Space Type

Looking at space types, global occupancy remained consistent for Work Spaces (38.0%) and Other Spaces (36.0%) compared to Q4 2023. Meeting Space occupancy saw a slight increase to 30.0% (+2.0%). Regional breakdowns show EMEA with a notable jump in Meeting Space usage (+8.0 points to 32.0%) and Other Spaces (+6.0 points to 42.0%), while Work Space occupancy slightly decreased. APAC saw declines across all space types, particularly Other Spaces (-6.0 points). AMER experienced gains in Meeting (+4.0 points) and Work spaces (+1.0 point) but a drop in Other space occupancy (-5.0 points). This suggests a potential growing emphasis on collaborative spaces in EMEA and AMER during Q1.

Table 2: Average Occupancy by Space Type. Note: The percentage changes are calculated based on the previous quarter’s data.

3: Meeting Room Occupancy

Meeting rooms are spaces designed for collaborative activities, such as team meetings or client presentations. The efficient use of these often high-value spaces remains a key focus for workplace optimization.

Table 3: Average Meeting Size by Region. Note: The changes are calculated based on the previous quarter’s data (Q4 2023).

Average meeting sizes decreased across all regions compared to Q4 2023. The global average dropped to 2.4 attendees (-0.6), with the most significant decrease seen in APAC (-1.0 attendee). EMEA and AMER saw smaller declines. This trend suggests a shift towards smaller, possibly more frequent, collaborations or increased use of meeting rooms for individual focused work, reinforcing the trend observed in previous quarters.

The capacity vs. usage data for Q1 2024 continues to highlight the underutilization of large meeting rooms. Globally, 56.3% of observed meetings involved only one person, while only 18.7% of rooms are designed for single occupancy. This pattern holds across regions: EMEA (54.9% single-person meetings vs. 20.1% single-person rooms), APAC (57.4% vs. 22.3%), and AMER (57.1% vs. 12.7%). Conversely, rooms designed for 5+ people represent a substantial portion of the portfolio (approx. 40-50% regionally) but host a small fraction of actual meetings (typically <10%). This persistent mismatch underscores the need for reconfiguring meeting spaces to better align with actual usage patterns favoring smaller group or individual sessions.

Conclusion

Entering 2024, workplace occupancy patterns show general stability compared to late 2023, with global average occupancy holding at 36.0%. Minor regional shifts occurred, with AMER seeing a slight increase and APAC a slight decrease. A notable trend is the increased utilization of meeting spaces in EMEA and AMER, coupled with a decrease in average meeting size across all regions. This, combined with the continued dominance of single-person meetings in rooms often designed for larger groups, strongly suggests that the primary function of meeting rooms is shifting. Organizations should critically evaluate their meeting space inventory, potentially converting larger, underused rooms into smaller huddle spaces, focus rooms, or tech-enabled collaboration hubs to better match demonstrated employee needs and improve overall space efficiency.