The number of high-growth enterprises in the management consultancy services in Turkey has shown a notable increase from 2014 to 2023, climbing from 78 units in 2014 to 157 units in 2023. This trajectory experienced robust growth in the early years with fluctuations due to economic uncertainties, notably a significant drop in 2020, before rising steadily again. In 2023, the industry had a year-on-year growth rate of 8.28% and a 5-year CAGR of 2.17%.
- From 2014 to 2017, the industry experienced substantial growth rates, peaking in 2015 with 21.79% year-on-year increase.
- 2019 saw a slight decline of 3.55%, followed by a sharp drop in 2020 due to global challenges.
- A robust recovery was seen in 2021 with a 26.47% increase, leading to consistent growth in the following years.
Looking ahead, the forecasted data from 2024 to 2028 suggests a more tempered growth rate, with the 5-year forecasted CAGR at 0.98% and an overall growth of 5% in that period. Future trends to watch for include the impact of digital transformation, regulatory changes, and economic stability on the consultancy sector's growth dynamics.
