As the COVID-19 pandemic recedes, workers have once again returned to offices across most of Asia Pacific as the hybrid working trends which accelerated during lockdowns and social distancing are now beginning to unwind. The trend for blended working arrangements (hybrid or remote) is certainly significant, however, and will continue to reshape office demand going forward.

We note that compared to other parts of the world, the remote work potential among the Asia Pacific workforce is distinctively lower than their European and North American counterparts. According to a survey conducted by McKinsey, 79% of the workforce in China and India, the two largest working populations in the Asia Pacific, cannot even work remotely at all, which is a sharp contrast to the 52% and 61% recorded in the UK and US.