A milestone year of landmark growth
In 2024, Praxity delivered another year of outstanding growth. Global activity showed a higher revenue of $10.9 billion in 2024, marking a substantial 12.3% increase from the year prior. This incredible result is indicative of our agility and the long-term strategic vision of the Alliance.
As we reflect on the year gone by, it’s clear to see that joining the Alliance remains desirable to Firm’s across the globe. Operating in 120 countries, Praxity’s high-quality vetting process connects top-tier professionals spanning 975 offices across the globe, and uniting 85,000 individuals.
Notable revenue growth was observed in Europe, which experienced a significant 23% increase, ascending to $2.9 billion. Remarkably, revenue growth increased by 24% in the Middle East, reaching $102 million; Latin America grew by 19%, reaching $144 million. The outlook for 2025 looks optimistic, with a positive trajectory expected for the year ahead.
Recognising these phenomenal achievements, Praxity CEO Samantha Louis comments:
“Growth is a testament to the strength of the Alliance, but more importantly, it reflects the strong partnerships our member firms build with their clients. These figures are a result of their commitment to understanding client needs and delivering tailored solutions. Praxity members are constantly improving the client experience through collaboration and trust.”
2024 in review
Audit & Accountancy
50.3% of total revenue
Here, the recent positive momentum is clear for all to see. Accounting for half of the Alliance’s total revenue, this service line increased by 12.2% to a phenomenal $5.5 billion. This revenue was driven by our firm commitment to quality and client delivery, capitalising on opportunity effectively in order to gain a competitive edge.
Tax
26.5% of total revenue
In 2024, our tax divisions exhibited strong performance, contributing $2.9 billion. Constituting 26.5% of our total revenue, this demonstrates a significant increase of 18.9%. Companies that strategically navigate compliant solutions across borders and sectors saw extensive opportunities. To that end, our Member Firms efficiently navigated a complex tax landscape to deliver streamlined, high-quality solutions.
Advisory
19.4% of total revenue
Advisory services experienced strong growth throughout 2024, increasing by an average of 8%. These services generated momentum with revenues of $2.1 billion, representing 19.4% of our total revenue. This period of growth is due to client confidence, established through trusted partnerships that offer quality guidance and support.
As we look ahead to 2025, it’s clear that Praxity is positioned for a dynamic year. Amidst accelerated digital transformation, our Member Firms are seizing the opportunity to capitalise on new technological advancements. Client delivery continues to be of paramount importance, and our Member Firms remain focused on client relationships and value creation. Establishing trusted partnerships remains essential to facilitate growth in new regions, empowering our clients to navigate complex regulatory environments for today’s financial services clients.