Since 2004, the Spanish Association of Consultancy firms (Asociación Española de Empresas de Consultoría or AEC) has meticulously compiled data from Spanish firms in the industry to offer an annual snapshot of the most important features and trends in the industry. This report provides data for 2017 and comparisons with previous years. The figures confirm that the industry is structurally stable and is experiencing sustained growth.
The data used was obtained directly from the consultancy firms and official statistics from the Ministry of Employment, the National Statistics Institute (INE) and Eurostat.
Some of the main conclusions are outlined below:
In 2017, the consultancy industry saw revenue rise by 6.2% to 12,944 million euro. This trend has been consistent over recent reporting years and the forecasts for 2018 are for additional growth of 5.8%. Growth rates in the industry have consistently outstripped GDp, even in nominal terms.
During 2017, the industry’s net workforce rose by 3.4% to over 170,000. The increase in net employment has been consistent since 2004, when this annual report was first published. The industry generates high-quality, knowledge-intensive employment: more than 69% of staff have higher education and 70% have a STEM qualification.
The qualitative survey of firms shows that the skills most highly valued among employees are a capacity for learning, teamwork and a results-oriented approach.
During 2017, consultancy services continued to grow and now account for 22.6% of total revenue. Demand for these services is being boosted by the process of transformation Spanish companies have now embarked on to adapt to the new digital age.
The greatest demand for consultancy services in 2017 came from the financial services sector, which accounts for 33.2% of all revenue in the industry. The share of business from government has again grown, to 18.6% of total revenue, while telecommunications accounts for 12.9%.
The firms surveyed forecast that the top revenue-generating technologies over the next five years will be analytics, artificial intelligence, robotization, cloud computing and cybersecurity, in that order.