The advertising sector in Belgium has seen a fluctuating turnover over the years, with values peaking at 4.78 billion Euros in 2016. Following this, a decline was observed, with a noticeable dip in 2020 to 3.34 billion Euros, attributable to the pandemic's impact. By 2023, the turnover stood at 3.83 billion Euros, marking a -1.66% year-on-year decrease. The five-year CAGR leading up to 2023 was -2.08%, indicating a steady decline. Forecasted data suggests a continued decrease, projecting a turnover of 3.49 billion Euros by 2028, with a five-year forecasted CAGR of -1.46%.
- 2013-2018: Fluctuating growth, highest value in 2016
- 2019-2023: Steady decline, with a hard hit in 2020
- 2024-2028: Forecasted continuous decrease in turnover
Future trends to watch for include the impact of digital transformation in advertising, shifts in consumer behavior towards digital and more personalized advertisements, and economic factors influencing advertising budgets and expenditures.
