The labour costs in the advertising and market research sector in Mexico have shown a steady increase over the past decade. As of 2023, the cost stood at 8.1 billion Mexican Pesos. The year-on-year growth rate from 2022 to 2023 was 2.63%, marking a gradual deceleration compared to previous years. The 5-year CAGR leading up to 2023 was 2.61%, indicating moderate long-term growth. Historically, the sector experienced higher year-on-year variations, such as a 7.25% increase in 2018, but recently the rate has plateaued.
Looking forward, the forecasted growth continues to be positive albeit at a slower pace. By 2028, the labour costs are projected to reach 9.07 billion Mexican Pesos. The expected CAGR for the next five years is 1.8%, suggesting a stable yet modest increase. The total growth rate over the forecast period is anticipated to be 9.31%.
Trends to watch for include:
- Potential impacts of economic fluctuations and inflation on labour costs.
- Technological advancements and automation affecting job market dynamics.
- Shifts in market demand for advertising and market research services.
