The turnover of business and other management consultancy activities in the UK has shown a varied trend from 2013 to 2023, starting at 56.34 billion euros in 2013 and rising steadily to 80.75 billion euros in 2023. The periods have seen significant growth spikes, such as in 2014 with a 19.34% increase, and some declines, notably in 2016 with a -10.15% drop. The last two years observed a modest average year-on-year growth of around 1.82%, indicating a more stable yet slower growth phase. The 5-year CAGR leading into 2023 stands at 1.82%, reflecting consistent albeit modest growth in the sector.
From 2024 onwards, forecasts suggest a continuation of this steady growth trend, with values projected to climb annually, reaching 87.45 billion euros by 2028. The forecasted CAGR over the next five years is 1.26%, with an overall growth rate of 6.46% by 2028. This indicates that while growth may remain steady, it will not be as rapid as in some previous years.
Future trends to watch for include technological advancements driving efficiency and productivity, increasing demand for digital transformation consultancy, and potential impacts of economic fluctuations on consultancy spending. Additionally, the growing importance of sustainability and ESG (Environmental, Social, and Governance) consulting could provide new avenues for growth.
