Despite increased geopolitical tension, lingering inflation, elevated interest rates, and persistent concern that a recession looms around every corner, marketing department heads are even more optimistic than last year. According to Nielsens’s recently released Annual Marketing Report, 72% of global marketers expect their ad budgets will increase this year, versus 64% in last year’s survey. Marketers in the Asia Pacific region are the most upbeat, with 82% expecting ad budgets to increase while 62% of those in Europe, the Middle East, and Africa expect an increase. On average, global marketers plan to spend 63% of their ad budgets via digital channels versus roughly 50% last year.
Source: Nielsen, May 2024