According to admanGo, the total adspend reached HK$7.45 billion in the second quarter of 2024, marking a 2% YOY increase. Although changes in consumer behavior may pose challenges for various industries, the government’s active promotion of mega events economic initiatives has further boosted tourism recovery in Hong Kong. The expansion of Individual Visit Scheme cities in May this year has driven continuous economic development, leading to a rebound in local adspend in the second quarter. Looking ahead to the second half of the year, the Olympic fervor and the peak summer shopping season, coupled with the increase of duty-free allowance for luggage articles for Mainland resident visitors starting in July, are expected to encourage industries to invest more resources in promotional activities, it is hopeful that local adspend is anticipated to continue steadily growing in the third quarter.
To learn more about the Hong Kong Adspend in Q2 2024, please download the full report.
– More analysis on Media Share
– Top 10 Industries
– Top 10 Advertiser Groups