Bonn: Strategy and marketing consultancy Simon-Kucher & Partners is the latest international firm to extend its presence in the Middle East.
The German pricing specialist is opening an office in Dubai — its 25th worldwide.
"This new office is a big step in our globalization strategy. Having an office in Dubai gives us better access to the entire Middle Eastern market, closing up a former white spot on our world map," says Dr. Georg Tacke, Simon-Kuchers' CEO.
The consultancy hopes to benefit from the region's high growth potential. The economic growth rate for the Gulf region is estimated to be almost five percent — clearly ahead of industrial countries such as Germany and the rest of Europe.
Simon-Kucher's move follows similar investments by, for example, its German consulting rivals Roland Berger Strategy Consultants and Camelot Management Consultants late last year, and US group Booz Allen this summer.
Simon-Kucher says it will be supporting its clients from all industries on location in the Middle East. In the mid-term, the firm plans to staff the Dubai office with 20 consultants and to generate five to ten million USD in revenue annually.
Dr. Ekkehard Stadie, head of the firm's global telecommunications practice, is the firm's Partner responsible for Middle East activities. Together with Director Lovrenc Kessler, who will manage the office in Dubai, they have already supported many UAE clients — up to now, from Germany.
Stadie and Kessler are looking forward to the new challenge. "The UAE have left the real estate and financial crisis far behind them. The region's current economic conditions are favourable, particularly for our management consulting services."
Simon-Kucher's portfolio — pricing, marketing and sales — fits perfectly with the current developments in the region. For well developed markets like the Gulf region, pricing is without doubt the strongest profit lever, the firm says.
The enthusiastic expansion of international consulting firms into the Middle East is not hard to fathom.
The 2012 Management Consulting Market Report, the definitive analysis of consulting in Europe, the Middle East and India, from specialist research group Source, published in July, gives the area covered by the Gulf Cooperation Council the highest level of growth, at around 20 per cent.