To answer that question, we looked at the top 50 countries in terms of law firm revenue, as reported by Law Firm Executive Network (www.lfenetwork.com) for fiscal year 2017. We also included the United States because it is widely considered to be one of the best places to practice law, especially in terms of financial rewards and job opportunities. So how do they compare?
The results are clear: The U.S., with $208 billion in total revenue among its largest 100 firms, ranks first overall, followed by Switzerland ($60 billion), Hong Kong ($49 billion), Singapore ($26 billion), Japan ($23 billion), Sweden ($22 million) and Germany ($21 million). All others had revenues between $10 million and $20 million each during FY17; only three met or exceeded this threshold: Luxembourg ($62 million); Finland (over $50 million); and Austria (over $70 million). There were only four other countries where more than 20 percent of firms made over 10 times their annual revenue: Ireland (68 percent); Australia (61 percent); Canada; and South Africa.