The number of persons employed in advertising agencies in Austria has shown notable growth over the past decade, starting from 24.65 thousand employees in 2013 and reaching 31.35 thousand employees by 2023. The year-on-year variation has experienced fluctuations, with significant growth in 2018 (4.26%) and a notable dip in 2020 (-4.97%) likely due to external economic challenges. The latest data from 2023 shows a 2.14% increment over the previous year.
Over the last two years, the employment figures have shown consistent positive growth, despite a slower pace. The Compound Annual Growth Rate (CAGR) for the last five years stands at approximately 1.95%, reflecting a stabilized growth trajectory post-pandemic.
Looking ahead to the forecast period up to 2028, the sector is expected to continue growing, albeit at a moderate pace with a forecasted 5-year CAGR of 1.54%, culminating in a 7.93% growth increase by 2028.
Future trends to watch for in the advertising sector include the increasing influence of digital media, evolving client demands, and the integration of advanced technologies such as artificial intelligence and data analytics into advertising strategies. These could significantly impact employment patterns and skill requirements within the industry.
