An empirical study of consulting in a transitional economy in the Central European region during COVID-19

Abstract

The consulting industry has been affected in many ways by the global pandemic. According to a leading international literature source (consultancy.org), the decline is most noticeable in Europe. In our article, we present the general recent trends of the global management consulting industry, and then outline the results of our survey conducted among Hungarian consultants. Our team surveyed the extent and direction in which consulting companies have been affected by the pandemic. Although some of the respondents reported rather negative effects, the survey finds that a significant proportion of respondents consider the emerging crisis as an opportunity and not only as a threat.

Keywords

• Consulting, Coronavirus, Pandemic, Crisis, Negative effects