BrazilBCG books global revenues of $7.5 billion with 19 percent growth
Boston Consulting Group has booked its fifth consecutive year of double-digit growth, clocking global revenues of $7.5 billion last year.
Global strategy and management leader Boston Consulting Group has capped another busy year with record revenues of $7.5 billion. Starting 2018 off as The Boston Consulting Group prior to the completion of a visual overhaul and minor rebranding in December, the firm may have shed the ‘The’ but it’s managed to add more than $1.2 billion to its 2017 take – to be up by a huge 19 percent at constant rates.
The fifth consecutive year of double-digit growth for BCG – jumping from the 11 percent rise for the prior financial year – the firm noted strong growth across all regions and in both industry and functional areas, with its digital offering doubling in size to contribute significantly in around one third of its revenues across regions and practices. The firm stated that digital will continue to be a priority focus.
“The capabilities of our talented and diverse workforce, and our investment in innovation and cutting-edge solutions for our clients are at the root of our consistently strong performance,” said BCG CEO Rich Lesser. “At our core, we remain focused on the quality of our work, our long-term client relationships, and our commitment to driving large-scale positive change consistent with our values and purpose.”
Over the past two years, the firm has also added around 4,500 employees across its locations in over 50 countries worldwide (including Omar Alshogre, an ex-political prisoner in Syria now employed at BCG in Sweden) – with the net 2,500 rise last year pushing the firm’s headcount out to 18,500-plus. BCG also added further capabilities last year, continuing with the recent acquisition of Australian data simulation company TSG.
“At the core of our business and our organisation is close collaboration – among our employees at all levels and with our clients. Working together, our people continually challenge themselves and their colleagues to develop and implement innovative new approaches, said Lesser. “As we look towards the next decade, we are deeply committed to ensuring that our clients are well-equipped to meet the challenges and opportunities of a fast-changing world.”
Meanwhile, the firm continues to give back to the region through its corporate social responsibility initiatives, including last week having hosted the launch event for its local Jeel Tamooh programme, which seeks to develop and inspire the next generation of business leaders in Saudi Arabia. Altogether, one hundred of the brightest local graduate students will participate in the training and mentorship programme.
“BCG recognises the value of personal development as a critical enabler of future success. We seek to attract talented individuals, and will empower them to learn and grow,” said BCG Middle East managing director Joerg Hildebrandt. “Jeel Tamooh is testament to our mission to support the positive development of societies we work in. As a global firm, we will share best practices and industry-leading knowledge, to prepare the enrolled students to thrive in a fast-changing world.”
