UAE Consulting Statistics for 2022
The consulting industry in the UAE has been largely affected by the pandemic. But recent reports show that it grew by an impressive rate of 16.6%, largely driven by the country’s desire to strongly recover from the pandemic.
Why the UAE Consulting Market Matters
The consuling market in the UAE is a huge market. Many of the consulting firms work with the public sector, helping governments to diversify their economies and reduce dependency on oil revenues.
In the UAE, annual consultancy revenues were reported to reach US$916 million in 2019. Massive and rapid changes in the region prompt the public and private sector to turn to the consulting industry for help, especially with complex and sophisticated technologies.
How the UAE Consulting Market was Affected by the Pandemic
Revenues were down on the onset of the pandemic especially with mobility restrictions set in place. Many clients in the industry stopped existing projects, especially when the project involves consultants working extensively in the clients’ office. New challenges emerged especially when supply chains were disrupted.
However, in a recent report by Source Global Research, clients were found to be more optimistic about the futures of their respective industries. About 41% of their clients said that the 2020 pandemic had a good impact on them and 14% saying they were unaffected.
Important UAE Consulting Market Statistics for 2022
UAE has the second biggest consulting market in the GCC region (second to Saudi Arabia), growing by 16.6% to US$736 million in 2021.
In the GCC in general, financial services and the public sector were the primary sources of overall revenue.
But the fastest growing consulting service is cybersecurity, with revenue up more than 28% to US$303m in 2021.
Demand for strategy consulting rose across the GCC region, with revenue rising more than 24% to US $838m in 2021.
And 59% of client organisations across the GCC said they expect to spend more on consulting support in 2022 than they did in 2021
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