Top 05 business consulting firms in Saudi Arabia
January 14, 2022
Top 05 business consulting firms in Saudi Arabia
YRC is a Management Consulting Company, especially for the B-C Sector. Empowering Retail & E-commerce businesses.”PUNE, MAHARASHTRA, INDIA, January 14, 2022 /EINPresswire.com/ -- The consulting industry of Saudi Arabia, valued at 1.44 billion, continues to grow with high impact and strategic engagements. As every consultant relishes the opportunity to work with top management personnel for these strategic and notorious projects, the competition in the industry continues to grow. From advising Saudi Arabia on the key pillars of Vision 2030 to NEOM by megaproject, strategy consultants are in high demand across the Saudi region. To support the management and rollout of highly complex projects and strategies, the country's policymakers and corporates are increasingly turning towards business consultant to make things happen. The Al Khozama Center, located in the heart of Riyadh, hosts the country's top-tier consulting firms like McKinsey & Company and The Boston Consulting Group, which drive some of the most transformative projects for the Saudi government. Business consultants play a pivotal role in serving Saudi Arabia’’s high-growth industry sectors such as tourism, hospitality and leisure, construction, telecoms and financial services, as well as major sectors such as oil and gas, the public sector and the region’s sovereign wealth funds. Saudi Arabia has been on the run for a long-term strategy to decrease the country's dependence on oil reserves. As the country's policymakers and corporates decide to seek external expertise on transformational projects, the diversification has come across as a boon to the consulting industry. As per Source Global Research, there has been an increase of 12% in consulting fees across the country while consultants are being hired to transform the entire country.
— Nikhil Agarwal
In a bid to capitalise on the growing demand for consultancy services, a host of players have now emerged in the market to advise the Saudi government on strategy, management, and transformation. With experienced leaders and practitioners who are customer-focused, consultancy services in the region are delivery-excellence driven, and can navigate and manage complex projects, working effectively across diverse business and technology organizations. Let's look at some of the top business consultants in the region:
McKinsey & Company
McKinsey is one of the most trusted advisors to the region's leading businesses, government, and institutions. McKinsey's presence is so dominant in the higher echelons of the Saudi Government that businessmen have often nicknamed the Ministry of Planning as the "McKinsey Ministry". The firm has stayed true to its professionalism in its work over the years of its work for companies around the region. Hiring McKinsey telegraphs to competitors and employees that the company is serious about working on a problem o- whether it involves generating business, cutting down costs, or launching a new line of products. Apart from the government, McKinsey consultants spread across the country across various industries like banking, media, telecommunications, real estate, and energy.
Boston Consulting Group
BCG, one of the world's leaders in business and management consulting, is active across the Saudi region with a range of project types. BCG is actively involved in the development of a state-owned mortgage firm to provide a secondary market for home loans. Expanding its Riyadh office that opened in October 2020, the firm has been enjoying double-digit growth in the country. Recently the Kingdom of Saudi Arabia has involved BCG to deploy a new generation of cinemas across the country. This project brings about a raft of changes in the country's culture as public cinemas are being allowed in the conservative kingdom for the first time in 35 years. BCG has been commissioned to identify venues for parks and theatres for transformational development in the kingdom through a mix of government and private sector investments. Last year, Saudi telecom Company, the largest telecom operator in the country, joined Brightline Initiative, which is co-led by Boston Consulting Group.
Strategy & (PWC)
For any consultant with their foot in the Middle East grounds, Strategy& will be the first on their list of competitors. It is undoubtedly one of the best firms in the Middle East, pulling the most revenues in the region through high impact and strategic engagements. Booz & Co rebranded as Strategy& set their foot in the ME with their first office in Abu Dhabi in 1993, followed by Dubai, Beirut, Riyadh, Cairo, and most recently, Doha. Due to its deep roots in the region, the firms have gained a strong understanding of the market in the region and long-standing relationships in the private and public sectors.
Bain & Company
Bain & Company has been present in the Saudi region since 1990 and has been passionate about working with clients on their most critical issues and opportunities – including strategy, marketing, organization, operations technology, etc. They have emerged as leading advisors for strategic projects in consumer products and retail, financial services, private equity, tourism, and transportation and construction industries. Over the years, Bain Middle East has been involved in making an impact in the Saudi community by engaging in pro bono and public sector casework, fundraisers, and volunteering.
"YRC (Your Retail Coach)"
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