Julia Faria
Research lead covering advertising and marketing
Advertising in Colombia – statistics & facts
One of the largest economies in Latin America and the Caribbean, Colombia is home to a developing advertising industry. In 2023, estimated ad spending in Colombia amounted to 1.4 billion U.S. dollars, down from 1.6 billion dollars a year earlier. Despite the decline, the internet remained the medium accounting for the most ad spend in 2022, at 60 percent. TV and radio followed with around 20 and 10 percent, respectively. Overall, a seven-percent expenditure increase was expected for 2024, with the South American country's ad revenues will amount to an estimated 1.5 billion dollars.
The digital era of Colombian advertising
Digital platforms and technologies have become essential advertising tools in Colombia as internet adoption rises and the government ramps up investments in local network infrastructures. In 2022, Colombian digital advertising expenditure amounted to roughly 2.4 trillion Colombian pesos, up from approximately two trillion pesos a year earlier. Colombian digital ad spend growth rates have reached double-digit levels in recent years. The medium experienced a boom in 2021, likely due to the pandemic's impact on consumers' online behavior. Meanwhile, according to September 2023 estimates, Colombia's online ad spend distribution by advertiser category was highly diversified. The leading sectors – online stores, company services, and investment firms – collectively accounted for less than 10 percent of the total ad expenditure throughout that month.Colombian consumers and online ads
When researching for a potential purchase, more than nine out of 10 internet users from Colombia found ads useful at least sometimes during product discovery as of early 2022. More than half of the time, however, what made them click on an online ad were very palpable reasons. Around half of the consumers surveyed later that year mentioned items that interested them in the first place, as well as deals and discounts. Ad placement is paramount, however. According to the same mid-2022 study, two out of five responding internet users said too much advertising discourages them from clicking on an online display. About the same share mentioned annoying advertisements. The only upsetting characteristic cited more often was the appearance of a scam or a suspicion-raising ad.
