About Consulting in the Asia-Pacific Region
With some of the fastest-growing markets in the world, the Asia Pacific region is expected to drive global consulting growth in the years to come. As such, the Asia Pacific region presents some of the most exciting growth opportunities for consulting firms, particularly given the challenges they face in their traditional US and European markets.
In Indonesia, the market is expected to be driven by growing demand following reforms in the energy and banking industries, and the country’s joining the ASEAN Economic Community.
Singapore continues to be an attractive hub for western companies establishing regional headquarters to target the whole region or focus on South East Asia. Demand is driven by financial services as well as by traditional industries.
In India, digital consulting is one of the fastest-growing business lines in the industry thanks to growing internet and mobile penetration among the Indian population. Industrialization following the Make in India initiative will spur opportunities in all consulting areas.
For the consulting industry, China is still an emerging market, with growth of 15% CAGR expected over the next years. Given the tendency of Chinese companies to focus on long-term goals, demand is increasing for business strategy, corporate structure and human resource management services. The main market remains western companies expanding into Asia. Local consulting companies are gaining popularity because of their ability to adjust to local cultures and practices.
In Japan, the market is driven by Japanese business expansion overseas, increased M&A deals and growing demand for IT and cyber security consulting.
In South Korea, the growth is expected to be driven by the demand for digital and innovation consulting as well as services related to preparation for the 2018 Olympic Games.
Despite weaker local currencies, growth remains soft in Australia and New Zealand following the slow-down in foreign investment, and low commodity prices.