The turnover of business and other management consultancy activities in Belgium has shown notable year-on-year variation, starting at €10.26 billion in 2013 and increasing to €16.41 billion in 2023. From 2013 to 2023, the Compound Annual Growth Rate (CAGR) experienced significant fluctuations, ranging from 1.61% to 11.02%. The lowest annual growth was observed in 2018 with a decline of -14.58%, while the highest annual growth was in 2014 at 14.97%. In recent years, from 2021 to 2023, the growth rates have stabilized around 4.54% and 5.02%, respectively.
Looking ahead from 2024 to 2028, the turnover is forecasted to follow a positive trend, reaching €20 billion by 2028. The projected 5-year CAGR stands at 3.14%, indicating a steady growth trajectory with an overall forecasted 5-year growth rate of 16.72%.
Future trends to watch for include the increasing digitization of consultancy services, potential economic fluctuations impacting consultancy demand, and evolving market needs in areas such as sustainability and digital transformation, which could significantly drive growth within the sector.
