In Belgium, the production value of business and other management consultancy activities has shown a consistent upward trend from 2013 to 2023, reaching 16.31 billion Euros in 2023. The industry faced fluctuations, with significant growth until 2017, followed by a dip in 2018. Recovery ensued, with steady increases from 2019 onwards. Notably, growth surged in 2021 and 2022, resulting in an impressive value at the end of 2023. The compound annual growth rate (CAGR) over the last five years up to 2023 stood at 6.32%.
Looking ahead, the forecast suggests continued growth, with production value expected to reach 19.88 billion Euros by 2028, reflecting an average annual growth rate of 3.13%. Over the next five years, the industry is anticipated to grow by 16.67%.
Future trends to watch include the adoption of digital transformation strategies, increasing demand for sustainability consulting, and the impact of economic and regulatory changes on consultancy services. The shift towards hybrid work models and the growing emphasis on data analytics and artificial intelligence will also shape the sector's evolution.
