Advertising Spending in Hong Kong has experienced a year of ups and downs in 2023. According to admanGo, the total adspend in Hong Kong reached 30.1 billion in 2023, representing a YOY increase of 5.4%. At the beginning of last year, overall recovery of the Hong Kong economy driven by factors such as the resumption of normal traveler clearance between Hong Kong and Mainland and the easing of the pandemic’s impact, has led advertisers to allocate more resources to promotional activities. As a result, adspend in the first quarter saw a significant YOY growth of 21%.
With the change in spending style of Mainland travellers and increased demand for overseas travel among Hong Kong people post-pandemic, the YOY increase of advertising spending slowed down to 5.5% in Q2. Advertisers gradually adjusted their promotional strategies to align with market conditions, deploying campaigns only during festive seasons and peak travel periods. While adspend in the traditionally busy third quarter coinciding with the summer travel season recorded a 2.6% YOY decline, the fourth quarter was characterized by a stronger festive shopping atmosphere with a 1.3% YOY increase.
To learn more about the Hong Kong Adspend in 2023, please download the full report.
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