Consulting Firms in Latin America
The Latin America consulting market is almost in crisis mode, due to the low commodity prices that have caused a chain reaction, wrecking government budgets and driven companies to insolvency across all industries. For management consulting firms, the challenge in Latin America in the last years has been to sustain revenue growth as competition increases and macroeconomic pressures loom.
Demand in Caribbean Countries is driven by HR, Organisation Development and IT strategy, leveraging, in most cases, local consultants. Financial services represent the main growth area for non-local companies.
In Brazil, the management consulting industry is growing at 7% CAGR, fueled by continuing demand for financial, energy, operational efficiency and digital consulting services. Large consulting companies account for less than 30% of domestic revenue, indicating high fragmentation within the industry.
The market in the southern cone is expected to grow a high single-digit rate driven by the demand of the energy sector and Andean Countries with the growing linkage between Chile, Columbia and Peru represent growth opportunities for international companies with a growth agenda in the region..
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