After experiencing healthy growth of 4.9% to reach a value of US$3.91bn in 2017, Canada’s consulting market has made the ranking of the top 10 most attractive consulting markets in the world.

Ranked joint 10th overall in the annual rankings, Canada’s consulting market was also ranked fifth in the world for one of the four criteria used to compile the rankings—Propensity to Buy. This relates to the size of Canada’s consulting market relative to GDP.

These findings are published today (28th November 2018) in a new report from Source Global Research, the leading research and strategy firm for the global management consulting industry. The market attractiveness index and the supporting report draw on the largest-ever survey (3,917) of senior users of consulting services in 18 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 Propensity to Buy.

Edward Haigh, Director at Source Global Research said:

“Canada enters our rankings for the first time this year, taking up position mid-table for overall attractiveness and impressing us with the size of its market relative to GDP. Disruption is hitting Canada from all angles—Trump and trade, digital, talent outflows—and this will force clients to spend, even if they do so unwillingly.

However, unflattering growth prospects and weak average revenues make a big dent in Canada’s attractiveness as a consulting market, while a mid-table ranking for talent reflects the current exodus across the border to the lower-tax US consulting market.”

Wei Ke, Managing Partner at Simon-Kucher & Partners, who was interviewed by Source for its report, The Canada Consulting Market in 2018, said:

“The economy is still doing well, and we expect the consulting market to remain relatively good in 2018. There are some big unknowns, though, and the US is proving to be a very interesting factor.”

Using the biggest and most sophisticated model of the global consulting industry, Source identified DACH (Germany, Austria and Switzerland) (first place), the US (second place), Australia (third place), and the UK/GCC (joint fourth place) as the most attractive consulting markets in the world.

The DACH consulting market tops the index for the fourth year running

The Source report says that the reason why DACH remains at the top of the global rankings is largely because it continues to offer the market’s highest average revenue rates across a sizeable market base that is—individually (relative to GDP)—twice the size of South East Asia and six times the size of China.

John Moore, Partner, National Consulting Leader Canada at PwC, who was interviewed by Source for its report, The Canada Consulting Market in 2018, concluded:

“The market was very active in Canada in 2017, with lots of spend across all industries and all service offerings. It was a really good market. We think this trend will continue, unless some macroeconomic event like inflation dampens overall GDP growth.”

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