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05 Oct 2012
STRONG PERFORMANCE from developing markets and robust growth in established territoties saw global revenues climb 8% to a record $31.5bn (£19.5bn) at PwC.
Revenues from developing markets now account for 20% of PwC's aggregate global revenues, and are expected to reach 40% by 2017.
While revenues from developed markets were up – US revenues were up by 15%, and UK revenues up by 6% – sales in China increased by 14%, in India by 16%, in Russia by 13%, and in Brazil by 14%.
"We are in the midst of a global economic rebalancing. Economic growth in the developing markets will continue to outpace expansion in the more established economies," said Dennis Nally, PwC International chairman.
"That shift heightens the ongoing need to attract talented, skilled people and make sure they are located where our clients require them."
Despite eurozone concerns, the firm's members saw Western Europe grow 4% and Eastern Europe grow 8%.
Its workforce grew by 7% in 2012, taking the total number of people to more than 180,000 for the first time.
Advisory services grew 17% to $8.7bn, as clients called for help in transforming their businesses.
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Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
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