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The Effect of Remote Work on City Centers

The drastic shift companies have made to working from home has resulted in much less spending at city centers. Chicago Booth’s Steven J. Davis and colleagues have found that spending in city centers has dropped by 5-10% since the pandemic. This coupled with the results of a poll taken in May of 2021 that said – 75% of Fortune 500 CEOs expect to need less office space in the future – will have a significant effect on city centers overall.

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