The demand for consulting firms has significantly declined in major markets like the US and UK, leading to layoffs and restructuring. In contrast, the Gulf Cooperation Council (GCC) is witnessing unprecedented growth, with a 13.2% rise in the consulting market in 2023. The UAE’s efforts to diversify its economy away from oil over the past few decades have created a cascade of opportunities for consultants, who are increasingly shaping major national projects. As a result, the GCC is now seen as a lucrative market for international consultancy firms, expected to grow further in 2024.
Working on major national projects is giving consultants 'unique' influence in the region, experts told BI.
The scale of growth in the GCC advisory market is 'unprecedented' and that it has become 'the place for opportunity and the place.'
The GCC consulting market grew 13.2% in 2023, contrasting sharply with slower growth in the US and UK, which saw increases of just 5.2% and 4.7%, respectively.
Opportunities for consultants in the GCC have evolved from UAE's diversified economy investments into tourism, aviation, and real estate over the last twenty years.
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