Advertising - Hong Kong

Hong Kong

Ad spending in the Advertising market in Hong Kong is forecasted to reach US$3,319.00m in 2024.
The largest market is TV & Video Advertising with a market volume of US$712.50m in 2024.
When compared globally, the United States will lead in ad spending, reaching US$422.30bn in 2024.
Within the Advertising market in Hong Kong, 74.47% of total ad spending is expected to be generated through digital channels by 2029.
The average ad spending per capita in the TV & Video Advertising market is projected to be US$95.04 in 2024.
Additionally, Advertising market of the 76.52% revenue in Hong Kong will come from programmatic advertising by 2029.
Amidst a dynamic digital landscape, Hong Kong's advertising market is embracing innovative strategies to target tech-savvy consumers effectively.

Key regions: United States, China, Europe, Asia, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Advertising market in Hong Kong has been experiencing significant growth in recent years.

Customer preferences: Customers in Hong Kong have shown a strong preference for digital advertising. With the rise of social media platforms and the increasing popularity of mobile devices, digital advertising has become an effective way for businesses to reach their target audience. The convenience and accessibility of digital advertising have made it a preferred choice for both businesses and consumers.

Trends in the market: One of the key trends in the advertising market in Hong Kong is the shift towards programmatic advertising. Programmatic advertising allows businesses to automate the buying and selling of ad space, making the process more efficient and cost-effective. This trend has been driven by advancements in technology and the increasing demand for targeted advertising. Another trend in the market is the growing importance of influencer marketing. Influencers, who are individuals with a large following on social media, have become powerful marketing tools for businesses. Their ability to connect with their audience on a personal level has made influencer marketing an effective way to promote products and services.

Local special circumstances: Hong Kong's unique position as a global financial hub has attracted businesses from all over the world. This has led to increased competition in the advertising market as businesses strive to capture the attention of both local and international customers. In order to stand out in this competitive landscape, businesses are investing more in creative and innovative advertising strategies.

Underlying macroeconomic factors: The strong economic growth in Hong Kong has played a significant role in the development of the advertising market. As the economy continues to expand, businesses are increasing their advertising budgets to capitalize on the growing consumer demand. Additionally, the rise of the middle class in Hong Kong has led to increased purchasing power, creating opportunities for businesses to target this segment through advertising. In conclusion, the Advertising market in Hong Kong is experiencing growth due to customer preferences for digital advertising, the shift towards programmatic advertising, the importance of influencer marketing, the competitive landscape, and the underlying macroeconomic factors. As businesses continue to adapt to these trends and leverage the unique opportunities in Hong Kong, the advertising market is expected to further expand in the coming years.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year. In some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).