Between 2013 and 2023, the turnover of business and other management consultancy activities in Italy grew from 12.11 billion Euros to 18.65 billion Euros. Throughout these years, the industry experienced a fluctuating growth pattern, marked by both significant expansions and slight declines. The highest year-on-year growth of 10.19% occurred in 2019, while 2020 saw a minor contraction of 1.77%, likely influenced by the COVID-19 pandemic. Notably, the compound annual growth rate (CAGR) over the last five years leading up to 2023 was 3.81%.
Looking ahead from 2024 to 2028, the turnover is projected to continue its upward trajectory, reaching approximately 21.53 billion Euros by 2028. This forecasted growth suggests a 5-year CAGR of 2.28% and an overall forecasted 5-year growth rate of 11.92%. The industry appears to be on a steady expansion path.
Future trends to watch include:
- Technological advancements and digital transformation driving new consultancy needs.
- Increased demand for sustainability and ESG strategy consulting.
- Economic fluctuations potentially impacting corporate budgets for consultancy services.
- Global market influences and geopolitical factors affecting business operations strategies.
