Advertising Spend Reaches Record High In Hong Kong In 2013

Advertising spending in Hong Kong rose 9 percent to reach a record high of HK$43.1 billion in 2013, driven by the strong recovery in ad campaigns in the second half of the year. Data from media monitoring firm admanGo revealed banking and investment services was the top industry in terms of ad spending, while Procter & Gamble was the territory’s largest advertiser. In February 2013, the Hong Kong Advertising Association predicted a modest annual growth for the market, citing persistent factors affecting the economy, such as Samsung Electronics’ reduction of its advertising budget. Ad spending by cosmetics and skincare companies grew 10 percent to HK$3.6 billion, while the pharmaceuticals and healthcare industry’s ad spending rose 12 percent to HK$3.3 billion.