The advertising and market research output in Belgium experienced fluctuating growth between 2013 and 2023. Although the series is expressed in value and stood at 6.27 billion euros in 2023, key variations can be observed. Significant growth occurred in 2015 and 2016 with 5.39% and 5.78%, respectively. Notably, 2020 saw a sharp decline of -10.46% due to the pandemic, but the sector rebounded in 2021 with a 13.97% increase. The last two years showcase a slight up-and-down trend: -4.69% in 2022, followed by a +1.77% change in 2023.
Looking ahead, the forecast for 2024 to 2028 suggests a modest decline with a 5-year CAGR of -0.27%, translating to an overall growth rate of -1.36%. Future trends to watch for include the potential impact of digital transformation, evolving consumer behavior post-pandemic, and the increasing importance of data analytics in shaping both advertising and market research strategies.
