Between 2013 and 2023, the Advertising and Market Research sector in Chile saw a gradual increase in value added, from 409.36 billion CLP in 2013 to 505.53 billion CLP in 2023. The sector faced a notable dip in 2014 with a 6.19% decrease but rebounded strongly in subsequent years, highlighted by an 8.6% increase in 2015. From 2016 onwards, the growth was steady, averaging annual increments around 4-5% until it started moderating in 2019. The growth in recent years has decelerated, recording year-on-year variations of around 1-1.5% from 2019 to 2023.
Looking at the last two years, the sector exhibited moderate growth rates of 1.15% in 2023 and 1.18% in 2022. The compound annual growth rate (CAGR) over the past five years (2018-2023) was 0.89%, indicating a slowdown in growth.
Forecasted values from 2024 onward project modest yet steady growth, with an expected CAGR of 0.82% over the next five years, reaching 532.49 billion CLP by 2028. This suggests an overall growth rate of 4.18% across the forecast period.
Future trends to watch for include:
- The impact of digital transformation on traditional advertising platforms.
- Potential regulatory changes affecting market research practices.
- The influence of economic fluctuations on marketing budgets.
- The rise of data-driven and AI-enhanced advertising strategies.
- Evolving consumer behavior in response to new technologies and media consumption patterns.
