Management consulting intelligence firm Source opens Dubai office
Sourceforconsulting.com (Source) is opening a Dubai office to provide management consulting firms with the first locally sourced market intelligence on the Middle East consulting market. This comes at a time when there has been a real upturn in the use of European and US based consulting firms across the Middle East – as businesses turn to Western expertise to implement international best practice.
And with Western European consulting markets looking increasingly lacklustre, consulting firms, many of whom have had only a token presence in the Middle East until now, are increasing their capacity to serve the region.
The future performance of the market looks set to remain positive. Not only is GDP expected to rise by almost a quarter between 2010-2015, Source research has shown a market already well in excess of €800million and growing at a far greater rate than in more developed economies. The leading sectors for consulting firms in the Middle East are government (public sector), energy, natural resources and utilities, banking and capital markets and telecoms.
Fiona Czerniawska, Joint Managing Director of Source said: “A combination of strong economic growth and the demand for Western expertise is creating a buoyant consulting market in the Middle East. However, the immaturity of this market also means that there is a real shortage of specialist research, so firms and clients are operating without ready access to quality regionally focused research and information.
By reporting on the Middle East from within the Middle East, Source will provide an intelligent market insight which will help firms and clients to improve and grow their businesses.”
In the last twelve months, Source has doubled its revenues and currently does business with consulting firms whose combined income represents more than half of the entire consulting market in Europe and the Middle East.
In Source’s recent EMEIA Management Consulting Market report, a number of leading UK based consulting firms highlighted how the market has really taken off.
Andrew Hooke, Chief Operating Officer, PA Consulting Group, said: “The Abu Dhabi and Dubai markets will be strong for several years, but Saudi Arabia is now the biggest part of our portfolio.”
Phil Morgan, Managing Partner, A.T. Kearney, UK, also commented: “The Middle Eastern market has all the characteristics you’d want to build a successful firm, but we’re not alone in noticing this.”