According to admanGo, local advertising expenditure in 2022 was similar to 2021, with a total spending of 28.1 billion. Although local adspend recorded a 5.3% decline in Q1 and remained flat in Q2, we saw an upward trend in Q3 and Q4 as the epidemic gradually eased. The relaxation of social distance in April, new consumption voucher in April and August, together with the relaxation of overseas entry quarantine arrangements in July, all contributed to the growth of local adspend with a YOY increase of 2.8% and 2.2% in Q3 and Q4 respectively. Looking forward to 2023, as most of the epidemic restrictions have been lifted in mainland China and Hong Kong along with the arrival of the long awaited Quarantine-Free Travel, we are hopeful to see adspend continuing to grow.
To learn more about the Hong Kong Adspend in 2022, please click here to download the full report.
– More analysis on Media Share
– Top 10 Industries
– Top 10 Advertiser Groups