In 2023, Romania led with 15 young high-growth enterprises in advertising and market research, exhibiting a significant year-on-year increase of 30.26%. Italy and Hungary followed with 12 and 10 enterprises respectively, showing modest growth rates of 5.92% and 4.56%. Lithuania, Slovakia, and Portugal showed stability or moderate growth, while Norway and the Czech Republic, with only one enterprise each, saw no change or a decline of 12.94% in the Czech case. Latvia remained static at two gazelles.
Future trends in the European gazelle landscape to watch include:
- Potential increases in digital marketing innovations driving enterprise growth.
- The influence of EU funding on fostering start-ups in underrepresented countries like Portugal and Slovakia.
- Changes in regulations impacting advertising, possibly affecting growth rates.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Advertising and Market Research by Country
| # | 9 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Romania | 15 | 2023 | +25% | +30.26% | View data |
| 2 | 2 Italy | 12 | 2023 | +20% | +5.92% | View data |
| 3 | 3 Hungary | 10 | 2023 | +11.11% | +4.56% | View data |
| 4 | 4 Lithuania | 9 | 2023 | +12.5% | 0% | View data |
| 5 | 5 Slovakia | 6 | 2023 | +20% | +8.45% | View data |
| 6 | 6 Portugal | 4 | 2023 | 0% | 0% | View data |
| 7 | 7 Latvia | 2 | 2023 | 0% | 0% | View data |
| 8 | 8 Norway | 1 | 2023 | 0% | View data | |
| 9 | 9 Czech Republic | 1 | 2023 | -50% | -12.94% | View data |
