Looking to the Middle East
At HSBC, we are ideally-placed to support businesses in the professional services sector, serving you across our full range of banking services in the MENAT region.
As a trusted partner, we can support organisations in the sharing of leadership and business experience to help drive your business forward. This is especially relevant as firms strive to push forward their diversity agendas, embed sustainable practices and embrace digital transformation in business models locally, regionally and internationally.
The MENAT region’s economic refashioning, regulatory change and geopolitical tensions pose challenges for every business, but for the professional services sector, they are also abundant sources of opportunity.
Professional services sector expertise
The role of the professional services sector is central to the MENAT region’s journey towards economic transformation.
Future proofing your workforce
One of the biggest challenges for the professional services sector in the region is the diminishing number of expats in the workforce. As in other established hubs such as Singapore and Hong Kong, resource is beginning to dwindle.
Professional services firms rely disproportionately on expats – but this also spells an opportunity to adopt a very different resourcing policy: make the private sector more interesting and appealing to the regional community and identify and develop talent locally to create a more sustainable workforce.
Rather than having to build a capacity, you can partner with somebody who has expertise and run alongside them.
Demographics and diversity
In the MENAT marketplace, professional players vie not only for contracts but for a tight pool of potential recruits. Firms are responding by finding new ways to attract and retain people with critical skills.
Transformation under way
MENAT has leap-frogged western economies in many technologies, such as 5G. And successful adoption of digital advances will underpin achievement of the goals in the visionary transformation programmes of Saudi Arabia and the UAE.
Growth drivers and predictions
The next few years will see MENAT-based consultancies push into new territories, while boosting their policymaking influence.
Supporting the region’s transformation
Professional services ﬁrms are guiding their clients through the complexities of a dynamic market and in the process, helping to shape the evolution of MENAT states.
A fast-maturing market
From employee benefits to the novelty of VAT, government and businesses need help to handle regulatory changes in MENAT.
Opportunities on the horizon for companies that adjust to a new normal
As companies move to rebuild from the COVID-19 pandemic, senior leaders from Professional Services firms joined HSBC for the latest sector roundtable to discuss key trends, risks and opportunities to consider for the upcoming year.
View more sector specific insights
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