Gulf Consultancy Industry worth rose to $900 million in 2008
The current financial crisis is expected to give a fresh boost to the consultancy industry in the Gulf, as organizations are increasingly seeking high end counseling services to enhance productivity with lower resources.
The organizers of the 1st International Consultants Conference, to be held on June 1 and 2, 2009, at Grand Hyatt Dubai, say the size of consultancy industry in the Gulf crossed $ 900 million in 2008, registering a 15 per cent growth in management, business, marketing and communications counseling services. Nearly 45 multinational and local agencies are in the business, of which 32 are based in Dubai.
The 1st International Consultants Conference is organized by Al Maharah Consultancy supported by the UAE Chambers of Commerce and Industry Association as well as UAE Business Women council and Bell Consultancy to enhance interaction between Arab consultants and international peers and highlight the instrumental role played by consultancies in the socio-economic development of any country. The conference will also work on the client consultant relationship, partnership agreements between a consultancy and the client. Also, it will highlight how to identify problems and seek solutions.
Huda Sulaiman Al Jasem, Managing Director, Al Maharah Consultancy and Director of 1st International Consultants Conference, said: “This conference is a forum for decision makers and business people to track best practices and proven solutions. The conference will highlight the need for high end consultancy for the mirco and macro economics of the gulf region.”
The Gulf region has attracted some of the topmost consultancies, with the majority of them setting up headquarters in Dubai to serve the entire region. They have also tied up with local consultancies to provide them with local knowledge. With privatization and restructuring drives, consultancy industry will grow remarkably in spite of the financial crunch.
Al Jasem added: “Consultancies should develop strategies that enhance competitive advantage for companies in the Gulf who are competing for the same set of clients.”
The conference will throw light on the relationship between multinational agencies versus local agencies, private versus government sector expenditure on consultancy, GCC versus Levant as well as seconding consultants versus full timer employees' formula and fees of consultancies at the time of budget cut off.
Al Jasem added: “Marketing consultancy industry is very important in the Middle East. This conference will help highlight the need for such services amongst companies and organizations from private and public sectors”.
