Deloitte: Consultancy market will see rapid growth for next 5 years

The consultancy market will grow at a rapid rate and register over two-digit increases, so long as foreign investors keep coming in search of yields superior to those of other economies in the region, says George Mucibabici, chairman of Deloitte Romania, the local branch of the Big Four audit and professional services firm Deloitte. “The market will not see declines or small rises earlier than five years from now,” said Mucibabici. He says during this period, the local business environment will benefit from massive capital inflows, as well as from European funds. The Big Four market alone (which includes the top four auditing firms worldwide) exceeded 130 million euros last year, according to the Deloitte official. Broken down into components, audit services are estimated to continue to see rises, and so are financial, fiscal and legal consulting services and EU fund consulting services. “Fiscal and legal consulting services are gaining a more and more important role, as the businesses become increasingly complex and as Romanian businesses are integrated into a globalised market,” explains the head of the auditing company.