UK-BASED management consultants have tripled the percentage of their work done outside the UK, data from an industry body revealed today.
Consultancies did 17 per cent of their work in international markets in the first half of the year, up from five per cent in the same period of 2011.
And fee income continued to grow, the report from the Management Consultancies Association (MCA) said, rising a twentieth in the first half of 2012 compared to the same period last year.
Alan Leaman, chief executive of the MCA put the growth down to digital innovation. “UK consulting firms are at the centre of developments in the digital economy – advising organisations across the globe on how to capitalise on innovations such as cloud computing and so-called ‘big data’,” Leaman said.
“Firms are also particularly seeing a demand for cyber security and regulatory compliance work,” he went on.
Despite the gloomy economic climate, consultancies continue to be optimistic, the report showed, with 94 per cent expecting expansion and 61 per cent predicting expanding employment.