Employment in the Management Consultancy Activities sector in the UK has steadily increased from 2013, starting at 346.87 thousand full-time equivalents to 534.19 in 2023. The sector experienced a mixture of positive and negative variations with significant growth during several years, notably 2016 (11.62%) and 2018 (10.13%), and a notable decline in 2017 (-8.89%). The CAGR from 2013 to 2023 fluctuated, achieving a high of 10.04% in 2016 but slowing to 2.17% by 2023.
From 2024 onwards, forecasts indicate continuous growth, albeit at a decreasing rate, with a five-year CAGR estimated at 1.54% and an aggregate growth rate of 7.95% by 2028.
Future trends to watch for include digital transformation's impact on consultancy roles, shifts towards more specialized consultancy services, and potential macroeconomic influences, including Brexit implications and global economic conditions. Additionally, sustainability and ESG (Environmental, Social, and Governance) advisory services are expected to become a significant area of growth within the sector.
