A Slowdown in Saudi Arabia Is Roiling the Consulting Market

For years, Saudi Arabia has leaned on advisory firms to drive an expensive overhaul of its economy. But the kingdom’s once insatiable appetite for foreign consultants is dimming, adding pressure on an industry already buffeted by pressures worldwide.

While the country remains one of the biggest markets for consultants in the world, the pace of contract awards has started to slow, according to people familiar with the matter. It’s also led to some firms moving staffers to other locations, including Doha, one of the people said, declining to be identified as the information is private.

The effects are rippling across ...