Is This The End Of The Big City?
CNBC (YouTube Video)
March 2, 2021
Those whose jobs allow the option of remote work are growing accustomed to not making the daily commute to the office. In fact, surveys find that one in five workers do not want to return to the workplace at all. What is the future of big cities in the post-pandemic economy? Over 90 percent of survey respondents from United Kingdom firms say they expect to scale back their office footprints over the coming two years. Surveys also suggest young professionals are the most eager to return to the office for both social and career management reasons, though they prefer the option of occasionally working from home. “There is the idea that the pandemic will spell the end of cities, and I think that is overdone,” says Neil Shearing of Capital Economics, a global consultancy. “Cities have a way of adapting and enduring, if you look through history.”