The turnover in the Advertising and Market Research sector in Belgium has exhibited a varying trend over the past decade. The sector reached its highest turnover in 2014 at 5.71 billion euros and has since shown a general downward trend with major decreases particularly around 2018 and 2020. By 2023, the sector's turnover stood at 4.83 billion euros. The year-on-year variation in 2023 was -1.23%, continuing the pattern observed in 2022. Over the last five years, the sector experienced a negative CAGR of -1.29%, indicating an average annual decline.
Looking forward, forecast data suggest the turnover will continue to decrease, with the sector projected to decline to 4.52 billion euros by 2028. The anticipated five-year CAGR from 2024 to 2028 is -1.06%, pointing to an ongoing slight contraction in the sector.
Future trends to watch for:
- Shifts towards digital advertising and its impact on traditional advertising revenue.
- Economic recovery post-pandemic and its influence on marketing budgets and expenditures.
- Technological advancements in market research that could render traditional methods obsolete.
- Regulatory changes affecting data privacy and its implications for market research activities.
