After experiencing strong growth of 5.5% to reach a value of US$4.1bn in 2018, Canada’s consulting market has made the biggest gains in this year’s ranking of the most attractive consulting markets in the world, climbing from joint 10th to joint 7th in the last 12 months.
Canada’s consulting market was also ranked fifth in the world for one of the four criteria used to compile the rankings—
Clients’ propensity to buy. This relates to the size of Canada’s consulting market relative to GDP.
These findings are published today (24th October 2019) in a new report,
Planning for Growth in 2020 from Source Global Research, the leading research and strategy firm for the global professional services industry. The market attractiveness index and the supporting report draw on a survey of senior users of consulting services in 17 major consulting markets in North America, South America, Europe, Africa, the Middle East, and Asia-Pacific. Countries/regions are ranked on four criteria—
Talent, Growth prospects, Average revenue per consultant, and
Clients’ propensity to buy.
The Source report says that finding and retaining the high-level talent consulting firms require is a perennial problem the world over, and this year the only market in the world to increase its talent score was Canada. This is largely because Trumpian anti-immigration sentiment has made the US a less attractive destination at the same time that a booming Canadian tech scene is drawing a flood of highly-skilled digital workers.
B.J. Richards, Senior Editor at Source Global Research said:
“Debuting in our rankings at 10th place last year, this year Canada climbs to an impressive 7th place largely because of a significant increase in revenue per consultant as clients move ahead with an ambitious digitisation agenda.
A strong—if slowing—economy is also helping to support a propensity to buy score that’s well above average, and immigration policies that are friendly to young, digitally savvy workers are helping to ensure that firms can keep pace with demand.
At the same time, an explosion of boutique firms and high-tech players set on offering business solutions is helping to make this an increasingly competitive market for those offering consulting services.”
Using the biggest and most sophisticated
model of the global professional services industry, Source identified DACH (Germany, Austria, and Switzerland) (first place), the US (second place), Australia (third place), and the UK (fourth place) as the most attractive consulting markets in the world.
For more information on Source reports contact
ella-sian.jolley@sourceglobalresearch.com, telephone +44 (0)20 3478 1207, or visit
www.sourceglobalresearch.com.
