Hong Kong advertising sales to reach HK$27B in 2019
November 03, 2018 / Sharon Kwok
The global advertising industry is experiencing its strongest growth since 2010. Ad sales are driven by robust economic growth in the US and BRICs. Advertising sales in Hong Kong will increase by 4.2% in 2019 to reach HK$27.2 billion, yet digital formats still only represent 25% of total budgets, far below many similar markets, according to the latest report. The latest MAGNA report reveals that global advertising revenues grew by a record of 7.2% in 2018 to reach a total of US$552 billion in 70 countries analyzed by MAGNA. Global ad spend remains strong (US +7.5%, China +12%, Russia +14%, India +14%) thanks to robust economies and US$6 billion of cyclical spend, while Western Europe lagged behind due to the economic slowdown and political uncertainty.