Leading ad markets
Throughout the past decade, the Asia-Pacific region has experienced a huge transition with the development of many of its economies. In turn, the region’s ad spending and revenue have increased dramatically. China and Japan remain two of the largest ad markets not only across the Asia-Pacific region but throughout the world.
The Asia Pacific region is known for its strong advertising economy. Having previously fallen behind North America in terms of advertising spending, the region was expected to overtake North America by 2021. However, forecasts for 2020 advertising spending had conveyed expectations that ad spending would decrease significantly alongside a reduction in advertising revenue. This decline in the industry is attributable to the fallout of the coronavirus outbreak which cascaded throughout the Asia-Pacific region. Subsequently, total and partial lockdown measures caused the economic shutdown of many vital Asian economies and impacted their economic growth. As well as Asia Pacific’s ad economy, global advertising spending was deeply affected by the outbreak.