The production of advertising and market research in Greece experienced fluctuations over the past decade, demonstrating periods of both growth and decline. Significant drops were noted in 2020 with a -23.17% year-on-year variation, followed by a partial recovery in 2021 with a 16.69% increase. However, recent years show a downward trend, with 2022 and 2023 reflecting declines of -3.19% and -3.23%, respectively. As of 2023, the industry's value stood at 1.07 billion Euros. The projected CAGR for the next five years (2024-2028) is -3.04%, indicating a continued decline.
Future trends to watch for include:
- Innovative digital marketing strategies
- Impact of economic conditions on advertising budgets
- Adoption of data-driven and AI-enhanced market research methods
- Shift towards sustainability and ethical advertising practices