(Brussels) After the 2020 decline due to the Covid pandemic and the significant recovery in 2021, in 2022 Management Consulting turnover is expected to further increase its growth: +12.2%. The UK, Greece followed by Austria and Denmark, are driving such an upward trend. France, Italy and Germany are also achieving a double-digit growth rate.
A preliminary evaluation for 2023 forecasts an average growth rate above 10% in the European panel Management Consulting turnover. The international crisis is expected to have a different impact across Europe: in several countries (like Hungary, Italy and Spain) the Management Consulting turnover growth rate will be slowing down by a significant extent, while in other countries (like the UK, Romania and Slovenia) no negative impact on the Management Consulting industry is foreseen. In any case, the limited number of countries that provided their forecasts (7 countries representing only 43% of the European GDP) and the great uncertainties related to the future evolution of the international crisis, invite to take 2023 forecasts with caution.
After a rather stable situation during the 2020 pandemic and a significant increase in 2021, in 2022 Management Consulting employment has accelerated its growth rate: +8.9%. Romania, Germany and Hungary are the only three countries that registered a decline in employment after the pandemic and that have had a negative CAGR in the 2020-22 period.
At the same time, in many countries, such as France and Germany, Management Consulting employment grew less than MC turnover. Likely several MC companies, which had reduced their chargeability level to protect employment.
In 2022, according to the preliminary data, in almost all countries MC employment accelerated its growth rate, reaching on average 8.9%.
About feaco:
feaco, the European Federation of Management Consultancies Associations, is a not-for-profit organisation. Established in 1960, the Federation counts 15 national member associations.
The general purpose of feaco is to assist in the promotion and development of the profession of Management Consultancy in Europe by providing support to its constituent National Association membership in those areas where a collective voice is stronger than the sum of its individual members.
About the annual survey:
This report is based on a European panel that includes Austria, Denmark, France, Germany, Greece, Hungary, Italy, Romania, Slovenia, Spain and the UK (only for turnover), unless differently specified. The panel represents 77% of the overall European Gross Domestic Product (GDP) and 73% of the overall European employment.
To estimate the European trends, national data provided by the Associations have been weighted based on the national GDPs at market prices and the overall employment from aged 15 to 64 years old.
Press Contact:
feaco European Federation of Management Consultancies Associations
Annette Sausen
