Baker Tilly International has today announced record global revenues of $5.62bn for the year ended 31 December 2024, marking a 9% increase from the previous year (or 9.5% at constant exchange rates). This continues a period of sustained growth for the network, which has expanded by nearly 40% since 2020, despite ongoing economic uncertainty.
Growth was recorded across all regions, with EMEA leading at 13%, followed by North America at 11% and Asia-Pacific increasing by 2% in local currency terms. Latin America saw an 18% increase in local currency, though this was offset by exchange rate impacts in US dollar terms.
Several key markets—including Belgium, Canada, the Channel Islands, Colombia, France, Germany, Greece, Hong Kong, Italy, Malaysia, the Netherlands, Poland, Spain, the UK, Ukraine, and the USA—achieved double-digit growth in 2024.
All major service lines saw expansion, with advisory services up 16%, tax growing 11%, and assurance and accounting increasing 5%. Legal services recorded the highest growth at 17%, reflecting demand for multi-disciplinary expertise.
The firm’s global headcount increased by 1.2% to 43,515, including 3,480 partners worldwide. Female partners now represent 26% of the total, the highest proportion recorded by the network to date.
Francesca Lagerberg, CEO of Baker Tilly International, noted that the revenue increase, outpacing headcount growth, points to greater efficiency and evolving client needs:
“Growth in revenues easily outstripping the increase in headcount is a good sign that our network is growing sustainably and in response to client demand in a tough economic market.
“As always, I am very grateful for the leaders in all of our 143 markets and the hard work of our people who make this possible. Breaking through the US$5.5bn barrier demonstrates that this is a network with real ambition and drive.
“Our industry is currently both exhilarating and challenging, anticipating and responding to a fast-paced world. Our profession has a strong track record of helping clients in turbulent times and so there is likely to be plenty of activity in 2025 as we see the full impact of those record numbers of elections last year with new governments introducing new legislation and regulation. We are busy when our clients are busy and there is no doubt whether dealing with the impact of any trade tariffs or new tax legislation, to name just two areas, we will be very active. The next 12 months promises to be exciting.”
Baker Tilly International operates in 143 markets worldwide, providing accounting, tax, and advisory services to businesses navigating an evolving global landscape.