UK Consultancy Sector Expected To Grow By 9% In 2021 Despite COVID-19 Restrictions As Industry Supports Future Economic Recovery, According To The MCA

LONDON, Jan. 20, 2021 /PRNewswire/ --

• Consulting leaders expect the industry to grow by 9% in the next 12 months with the greatest area of growth in digital technology highlighting the critical importance of the sector in the economic recovery and urgent digital transformation of UK businesses
• Despite a tough 2020 for the UK economy and declines in some private sector markets most consultants still felt consulting activity met or exceeded expectations (83%) with growth up overall 2.5% in the year
• The repercussions of increased flexible and remote working are cited as having the biggest impact of the consulting sector going forward (73%), and 40% of young consultants say their training and development has suffered working remotely highlighting a need for return to offices to support the talent of the future.
• The number of younger consultants who attended Oxbridge is at its lowest level for 20 years as firms diversify their talent pools and increase efforts to improve social mobility

Despite continuing restrictions due to COVID-19 and the repercussions of Brexit changes, growth of 9% is still expected in the management consultancy sector in 2021, according to the latest Annual Member Survey from the Management Consultancies Association (MCA). In 2020 the consulting sector grew by 2.5%, less than anticipated but still slightly up, reflecting the resilience of the consulting sector and the huge efforts made by firms to react quickly to events and cater to new client demands. It also fundamentally highlights the importance of the sector and external support and trusted advice during critical periods of business disruption and transformation.

Over 500 consultants from a diversity of MCA Member Firms participated in the independent survey, conducted by Savanta, from Heads of Consulting to junior management consultants. Although growth was less than expected for 2020, nearly two thirds of consulting leaders said that consulting activity had met or exceeded expectations in the past 12 months (64%). This was despite the disruption of COVID-19 throughout the year and highlights that, while some firms did well, others, especially those focusing on aviation, transport and retail saw a downturn in activity as their clients were heavily impacted by lockdown restrictions. 88% of consultants predict the greatest demand for assistance from clients will be In the digital and technology sector over the next two years though activity is expected to say strong in life sciences, health, infrastructure and the public sector.