From Big Spending to Smart Spending
For more than a decade, Saudi Arabia’s economic transformation has drawn the world’s top consultancy firms to the Kingdom. The launch of Vision 2030 (vision2030.gov.sa) created unprecedented demand for advisory services, with mega-projects like Neom (neom.com), The Line, and Diriyah Gate reshaping the global skyline.
Between 2022 and 2023, the consultancy market grew by an extraordinary 38% and 25%, respectively. But in 2025, the government signaled a strategic pivot — slowing growth to a projected 13% — not because the vision had dimmed, but because the market had matured.
“We have built the foundations, and now we ensure every riyal delivers measurable impact.”
— Yasir al-Rumayyan, Governor, Public Investment Fund (PIF)
The Leadership Behind the Shift
Saudi Arabia’s consultancy recalibration is being led by some of the Kingdom’s most influential executives:
Leader Position Strategic Role
Yasir al-Rumayyan Governor, Public Investment Fund (PIF) Driving fiscal discipline and ROI-focused consultancy contracts
Aiman AlMudaifer CEO, NEOM Steering mega-project efficiency and promoting specialized partnerships
Fahd Al-Rasheed Advisor to the Royal Court, former CEO of Riyadh City Royal Commission Championing sustainable urban and economic development
Dr. Saad Al-Khalb President, Saudi Export Development Authority Advocating skills transfer and local consultancy talent growth
Maram AlJohani Acting Chief of Staff, PIF Leading strategic procurement reforms
Why the Reset?
Several forces are driving Riyadh’s new approach:
Oil price volatility — encouraging careful fiscal management.
Accountability on mega-projects — after years of heavy spending.
Local talent targets — Saudization quotas for consultancy roles increased to 40% in 2024 (Saudi Gazette).
Global best practices — ensuring each consultancy contract delivers tangible results.
In a bold move, PIF even issued a one-year ban on PwC from acquiring new advisory contracts — a clear reminder that performance now outweighs prestige. (Financial Times)
From Armies of Consultants to Expert Strike Teams
The new consultancy model focuses on:
- Specialised Expertise — sector-specific knowledge over generic strategies.
- Local Partnerships — joint ventures with Saudi firms to meet localisation requirements.
- Talent Transfer — embedding knowledge into Saudi teams for lasting capability.
- Value-Based Pricing — competitive bids with clear ROI.
“Mega-projects like NEOM will always require expert partners. What’s changing is how we engage — smaller, more specialized teams, more local partnerships, and clear performance metrics.”
— Aiman AlMudaifer, CEO, NEOM
Opportunities for Agile Firms
While some see a contracting market, the reality is a richer, more targeted playing field. With the 2029 Asian Winter Games in Trojena (olympic.org) and the 2034 FIFA World Cup (fifa.com), demand for high-impact advisory services remains strong.
Key growth areas include:
Event Infrastructure & Management
Digital Transformation & AI
Tourism Strategy & Hospitality
Sustainability Consulting for giga-projects like The Line and Red Sea Global (redseaglobal.com)
Positive Long-Term Impact
This is not the end of Saudi Arabia’s consultancy boom — it is the beginning of a smarter era:
For Saudi Arabia: Greater local capacity, stronger ROI, and reduced dependency on external advisers.
For Global Firms: A market that rewards quality, cultural alignment, and measurable success.
“The government is more sophisticated now in what it buys. It’s a competitive market, but also more rewarding for those who deliver.”
— Senior Partner, Global Consultancy
