By Gunjan Kalwani and Noel Tetteh - Data Integrity
Vencon Research’s proprietary compensation benchmarking data reveals a decisive shift in the consulting landscape. While five core Lines of Business (LoBs); Strategic Consulting (SCF), Management Consulting & Advisory (CON), Human Resources Consulting (HRC), Corporate Finance & Transactional Services (CFT), and IT Consulting (ITC) continue to define value creation globally, the highest growth is now concentrated outside traditional hubs.
This report identifies the emerging markets where national ambition is generating multi-year, project-driven demand, presenting a strategic expansion opportunity for firms with global ambitions.
Established Markets: Consistent Demand Profiles
Out of the 40+ LoBs Vencon Research tracks across 70+ countries, distinct regional specialties emerge.
These mature markets show stable demand, with each maintaining a consistent profile:
United States of America & United Kingdom: Dominance in high-level Strategic consulting and Management advisory.
Germany: Strong Management consulting, complemented by robust Technology and industrial advisory.
Singapore: A focus on Management and Operational consulting (OPO), aligned with its role as a financial hub.
United Arab Emirates: Prioritizes Strategic and Management consulting (CON) in line with its ‘We the UAE 2031’ vision.
Australia: Driven by digital transformation, demanding both Technology and Strategic consulting.
France: Uniquely balanced demand across all service areas.
Growth Markets: Expanding Demand Across Core Services
Our Market Engagement Index (MEI) below shows a fundamental reallocation of consulting resources. Strategic focus on key emerging markets has more than doubled since 2020. These are not fleeting opportunities but stable, long-term gateways to their regions, characterized by sustained, double-digit growth across core LoBs.
Country-Level Analysis: Markets with Rising Demand
Saudi Arabia
Key Driver: Saudi Arabia’s ‘Vision 2030’ transition from strategy to execution.
LoB Impact: Demand has shifted from SCF for giga-projects planning to a rise in OPO for implementation and ITC for digital infrastructure. HRC growth remains steady, driven by talent competition and regulation.
Poland & Romania
Key Drivers: Poland’s €60 billion EU recovery fund; Romania’s $1.3 billion tech sector.
LoB Impact: BDA and Digital Strategy projects have more than doubled. ITC growth has exceeded 150%, fuelled by smart city and cybersecurity mandates. SCF and CFT have grown significantly as local companies have matured and deal activity has nearly tripled.
Morocco
Key Driver: The "Digital Morocco 2030" strategy and 2030 World Cup preparations.
LoB Impact: The entire CON segment is growing, split between OPS for strategic advisory on cloud and AI, and OPO for the physical execution of 5G rollout and digital infrastructure.
Colombia
Key Drivers: A thriving fintech sector, exemplified by the successful launch of the Bre-B payment system, and a focus on green energy.
LoB Impact: Sustained growth in ITC from digitalization, complemented by rising CON demand for ESG transitions. A 55% surge in international hiring (Deel) is creating new needs in HRC for global workforce integration.
Indonesia
Key Drivers: The $32.7B Nusantara capital city, a $146B digital economy, and a $172B initiative to restructure and modernize state-owned enterprises.
LoB Impact: Our MEI shows rising demand across the board:
- SCF, DIG, BDA: For new city planning and digital economy strategy.
- ITC: For cloud and cybersecurity infrastructure.
- HRC, DIG, ITC: Driven by the formalization of 62 million SMEs.
- SCF, CON, BDA: For green finance and ESG linked to the 2060 net-zero goal.
Implications for Consulting Firms
The data mandates a strategic response. To remain competitive, consulting firms must:
- Recognize the Shift: The growth of these emerging hubs marks a fundamental reorientation of the global consulting market.
- Pivot Resources Strategically: To compete, firms must deliberately reallocate focus and investment to these regions.
- Establish a Local Presence: Build a strong physical presence in these markets.
- Invest in Local Talent: Prioritize the recruitment and development of in-region expertise to ensure relevance and execution.
- Specialize in High-Demand Services: Build deep, specialized capacity in the core service lines driving growth: DIG, BDA, ITC, OPO.
Growth Markets
The market is sending a clear signal. We are seeing a fundamental shift in where the real growth is happening for consulting firms. The most consistent and sustained demand is no longer confined to the traditional hubs, but is anchored in markets where national development agendas and national ambitions are generating multi-year project pipelines. For consulting firms looking to build a lasting advantage, these regions represent an opportunity not to be missed.
Benchmarking demand is key to growth. Vencon Research identifies the markets and service lines driving sustained consulting opportunities, giving your firm the insights needed to focus resources and capture high-growth regions.