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Industry revenue of »business and other management consultancy activities« in Finland 2011-2023

Despite a difficult global economic climate, revenues generated from business and other management consultancy services are expected to register a steady increase over the medium term. Over the last few years Scandinavia has emerged as one of the key markets in the EU. Owing to its technological advancement, Finland is one of the region’s strongest markets with revenues expected to grow at a steady pace from 2712.21 million U.S. dollars in 2011 to 3039.54 million U.S. dollars in 2023. Major management consulting firms such as Bain, BCG and McKinsey have established a strong foothold in the country. Moreover, smaller boutique consulting companies such as Qvartz and several indigenous firms have also carved a niche for themselves and are now competing with the global firms for business wins in a few practice areas.

Apart from management consultancy, Finland’s strong capabilities in novel technologies has also driven the country’s market for IT consulting. As companies seek to transform their IT operations with better systems and robust technology, this industry is expected to grow from 221.7 million U.S. dollars in 2016 to 272.44 million U.S. dollars in 2021.

Industry revenue of »business and other management consultancy activities« in Finland from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Finland. The industry “business and other management consultancy activities“ has the code “M7022“.

Details on the methodology can be found here.

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