McKinsey & Company: Best Management Consultancy Spain 2021

Many businesses were tempted to hunker down and wait out the Covid-19 storm which hit in late 2019. Not so McKinsey and Co. The US-based global management consultancy, the oldest and largest in the world, was on the front foot, immediately evaluating risk, and conceiving strategies for businesses and economies to emerge the stronger. Nowhere was this more evident than in Spain, a country particularly vulnerable to the pandemic, given its reliance on tourism. McKinsey has operated offices in Barcelona and Madrid for more than 40 years, offering advice across the private, public and social sectors, transforming organisations and building enduring capabilities. In 2020, McKinsey staff in Spain produced a detailed report – The Future of Work after Covid-19 – focussing particular attention on the travel and tourism sector. The report not only outlined areas of risk, but offered guidance to overcome the problems faced by travel-dependent businesses. Tourism represents 14.3 percent of Spain’s GDP. The McKinsey report suggested that by the time the sector recovered, Spain could face cumulative GDP losses of $300b, and up to 4.4 million jobs might be lost. The company’s experts urged government and travel businesses to work together on high-priority areas to turn the tide and hasten recovery. Suggestions included the need for business to become more agile; to react quickly to changes in demand, and to innovate customer interaction. In 2021, the judging panel recognises, for the second successive year, the contribution made by McKinsey & Co, and is pleased to present the company with the award, Best Management Consultancy Spain.