This industry profile provides a five-year forecast for Canada’s consulting industry.
Document Highlights
Business confidence—Business confidence has been declining since early 2018, weakening demand for consulting services after two years of robust growth.
Canadian dollar—The weak Canadian dollar is helping consultants export their services to foreign markets and remain competitive abroad.
Tightening labour markets—The Canadian labour market has tightened significantly in recent months, with the unemployment rate reaching historical lows. As a result, consulting firms have to compete to attract qualified workers, in turn putting upward pressure on industry wages—by far the largest expense for the sector.
