This article was originally published by Financial Times.
As Saudi Arabia reassesses its economic transformation plans and faces budget pressures from lower oil prices, the years-long hiring boom for foreign consultancies is slowing, with firms now experiencing cutbacks and increased scrutiny from government clients. Consulting growth has dropped sharply, and competition for contracts has intensified as priorities shift and ambitious "gigaprojects" move from planning to delivery.
Bashar Kilani, United Arab Emirates managing partner at Boyden, highlighted the change, noting that what was once rapid-fire hiring by consulting firms “is slowing and in some cases there are cutbacks,” driven both by reduced client spending and technology such as AI increasing efficiency. As value for money becomes paramount and approval processes lengthen, the market is “softening back to a real market,” with one executive remarking, “The glory days are over. Now it’s a hard slog with more people in the room.”
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