The labor costs in the advertising and market research sector in Turkey have shown a steady growth trajectory from 2013 to 2023, increasing from 2.57 billion New Turkish Liras to 5.95 billion New Turkish Liras. From 2015 onwards, the year-on-year growth has fluctuated around single digits, with the most significant growth of 17.64% occurring in 2016. Over the last five years, the compound annual growth rate (CAGR) has moderated, averaging at 5.14% by 2023.
Looking ahead, forecasted data indicates a continued increase in labor costs, reaching 7.09 billion New Turkish Liras by 2028. The forecasted five-year CAGR stands at 2.77%, reflecting a slower growth rate compared to previous years. Trends to watch for include potential impacts of inflation, changes in labor market dynamics, and technological advancements that may alter labor needs in this sector.
