Hi There,
Interesting question indeed, I will try to answer it from my perspective as a junior in the industry,
In my opinion, there are 2 main issues impacting the consulting industry in 2024:
1. (Recurrent) Lack of professionals at the mid/manager level: This issue has been recurrent in the consulting field for some time now, as manager level is usually the sweet spot for employees to transition out of consulting, so this generates a lack of professionals at this level
2. (current) Demand for consulting: It is no secret that the demand for consulting services has recently experienced a slowdown, a trend that is not confined to any particular region. Even the typically dynamic Middle East markets have witnessed layoffs across several firms this year. This downturn, in my view, is closely linked to the global economic climate, as the consulting industry tends to mirror the broader economy—demand increases during periods of economic stability and growth, while it declines during times of uncertainty or economic distress
Happy to hear others' point of view as well,
Expert case by