Consulting services, 2024

Released: 2026-01-15

Consulting services revenue growth slows in 2024 following three years of double-digit gains

The management, scientific and technical consulting services industry generated $39.9 billion in operating revenue in 2024, up 6.3% from 2023. This marks the second consecutive year of slowing growth, following three years of double-digit increases. Despite slower growth in 2024, an increasing concentration of information technology consultants contributed to a 50.1% gain in operating revenue from 2020 to 2024.

Operating expenses increased by 7.9% to $31.3 billion in 2024, resulting in an operating profit margin of 21.7%. This represents the seventh consecutive year of declining profit margins as operating expenses continue to outpace revenue growth. Salaries, wages, commissions and benefits rose 7.3% to $12.6 billion in 2024, remaining the largest expense category at 40.2% of total operating costs. Cost of goods sold (14.4%) and subcontracts (10.1%) were the second and third largest expense items.

Ontario recorded the largest increase in operating revenue in dollar terms (+7.6%) in 2024, followed by Quebec (+7.0%) and British Columbia (+5.7%). Meanwhile, Newfoundland and Labrador (-0.9%) was the lone province to post a decline. For the first time, Ontario accounted for more than half (50.3%) of Canada's total operating revenue in 2024.

Within the management, scientific and technical consulting services industry, operating revenue for environmental and other scientific and technical consulting services increased 6.7%, outpacing the growth of management consulting services (+6.1%). Environmental and other scientific and technical consulting services continued to increase their overall share of operating revenue, which has risen from 27.3% in 2017 to 35.1% in 2024.

Businesses continued to dominate the client base in 2024, contributing just under two-thirds (65.9%) of total sales, followed by governments, not-for-profit organizations, and public institutions (14.2%). Clients outside Canada (13.0%) and individuals and households (6.9%) combined accounted for about one-fifth of total sales.

Outlook for 2025

Indicators for 2025 are generally soft for the management, scientific and technical consulting services industry. In Budget 2025, the federal government committed to reducing spending on management and other consulting services by 20% over three years. Comparing the first three quarters of 2025 to the first three quarters of 2024, industry employment edged up 0.2%, average weekly earnings increased 6.6%, and real gross domestic product grew 1.8%. A complete financial picture for 2025 will be available when data are published next year.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).