Influences on Management Consulting Industry Size and Contribution to National Gross Domestic Product

Management consulting contributes around 0.3% to the world’s gross domestic product, placing the sector’s value at over USD 300bn today. When considered country-by-country, the size of each country’s management consulting sector varied across several factors. In 2018, the International Council of Management Consulting Institutes (ICMCI) initiated its National Consulting Index (NCI) project to identify a statistical model using proxy indicators to predict the management consulting sector’s expected market size and contribution to each country’s Gross Domestic Product (GDP). The resulting NCI is the percentage of the financial contribution of management consulting to each nation’s GDP.

This paper reports the current status of this research. It provides estimates using economic and cultural proxy predictors, leading to the expected in-country management consulting market size for 97 nations.