Employment in Spain's advertising and market research sector has experienced fluctuating trends from 2013 to 2023. Notably, 2020 saw a severe decline of 15.35%, attributed mainly to the pandemic. However, a strong rebound occurred in 2021 with a 16.13% increase. Looking at recent years, 2022 observed a slight decrease of 3.83%, but employment rose again by 3.75% in 2023 to 194.8 million hours. Over the last five years, the compound annual growth rate (CAGR) is close to zero at -0.012%.
From 2024 onwards, forecasts predict moderate but steady growth, with the employment expected to reach 200.17 million hours by 2028, reflecting a 5-year CAGR of 0.43%. Future trends to watch include technological advancements in digital marketing, evolving consumer behavior towards online channels, and the increasing importance of data analytics in shaping advertising strategies. These factors could further influence employment growth in this sector over the coming years.
