The United Kingdom, the largest market in Europe by a substantial margin, declared a growth rate of +10.5% in net terms as the industry recovered from the impact of the COVID-19 pandemic. This is illustrated by face-to-face methodologies' returning to research portfolios, and the profession continuing to reinvent itself.
Other countries with double-digit net growth and turnover above US$ 100 million were Italy, the Netherlands, Belgium, the Czech Republic and Ireland – the latter being the fastest-growing country in the region.
2022 is expected to be a year of normalisation as growth rates take on more circumspect levels, with no country expecting growth above +9%. Only 6 countries will likely see their turnover decline, four of which are Bulgaria, Croatia, Slovenia and Switzerland. The other two are Russia and Ukraine, currently engaged in a military conflict with worldwide consequences. Unfortunately, estimating the expected growth of the Ukrainian industry for 2022 proved futile, though we hope the country manages not only to maintain its industrial fabric but to return with restored energy.
We will closely follow the results and hope to report a European market with a turnover of over US$ 33 billion next year!