While the three years following the onset of the Covid-19 pandemic were marked by instability and uncertainty – exacerbated by Russia’s war against Ukraine resulting in gas supply issues and inflation – law firms have been presented with opportunities for expansion and growth within a significantly reshaped legal market. With Italy among the European countries that suffered the most from both the pandemic and the energy crisis, its legal community has been concerned as to their fate in 2022.
Both large international and independent law firms faced an arduous business environment, characterised by tightened competition, shifting client needs, technological advancement and strict regulatory developments. Despite these challenges, many of Italy’s best independent law firms were able to achieve strong results in 2022 and have unanimously reported their busiest and most successful years, with an average increase in revenue of up to 10%.
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