 "Beyond Goa, Shimla: Here are India's emerging workation paradise hotspots")
The rise of remote work has triggered a fascinating trend: professionals seeking idyllic locations for extended stays, blending work with leisure. The hospitality sector is gearing up to cater to this demand, but where are the hottest destinations for these "workationers"?
Through a meticulous analysis of nearly 30 off-beat locales, high-impact locations were identified by Colliers, a real estate consultancy firm, with a specific target segment in mind. Workations - a harmonious combination of work and vacations, are an evolving trend in India, driven by the increasing flexibility of remote work. Offbeat and less explored destinations are witnessing a surge in demand for rental properties, second homes and hospitality services, tailor-made for remote and gig workers.
Key Considerations:
Here's what mattered most when choosing these workation havens:
Accommodation: Availability of service apartments, villas, and homestays that encourage a hybrid work environment, with dedicated workspaces and high-speed internet, was a top priority.
Fractional Ownership Interest: The study also considered the level of interest from fractional ownership players, suggesting a market potential for those seeking to invest in these destinations.
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Overall Infrastructure: The analysis factored in various aspects like existing infrastructure, including internet connectivity, to ensure a smooth workation experience.
Lonavala vs. Alibaug: A Case Study
For instance, Lonavala emerged as a more favorable location compared to Alibaug. This decision likely stemmed from Lonavala's more established infrastructure, particularly in terms of service apartments and high-speed internet access.
The High-Impact List:
This research identified several promising workation hotspots across India:
Coorg
Goa
Shimla
Lonavala
Manali
Nainital
Udaipur
Home-owners are capitalize on the trend by offering flexible stay arrangements such as monthly or long-term leases, dedicated work-stations with high-speed internet connectivity, furnished accommodations, wellness amenities and inclusive utility packages.
The Rise of Emerging Hotspots:
This trend, driven by factors like improved infrastructure, digitization, and the rise of remote work, presents exciting opportunities. These emerging hotspots, including the ones identified as workation havens, will likely mature into robust real estate centers, promoting more balanced economic growth across India.
A Look Ahead:
The number of Indian cities with a population exceeding 1 million is expected to double by 2050, creating new centers for business, living, and leisure. This growth will be fueled by the expansion of various real estate sectors – from commercial office space and residential properties to warehousing and logistics. Additionally, sectors like hospitality, data centers, senior living, and second homes are poised for significant growth in these emerging real estate hotspots.
As remote work continues to reshape the professional landscape, these workation destinations offer a glimpse into the future of India's real estate market - one that's not just about megacities, but also about vibrant smaller cities offering a unique blend of work and leisure for a new generation of professionals.