Influencer advertising spending in Latin America & the Caribbean 2017-2029, by market

In 2024, digital influencer advertising spending in Latin America and the Caribbean will surpass an estimated 1.12 billion U.S. dollars, up 12.6 percent from 999 million dollars a year earlier. The annual figure was projected to continue to rise in the following years, exceeding 1.82 billion dollars by the end of the decade. As of early 2023, less than 80 percent of the population of the region's largest economies – Brazil and Mexico – used social media.

The Brazilian influencer ad market

Over half of the adults surveyed in Brazil at the end of 2023 included film, TV, and music among their favorite online influencer genres, with business and economy rounding up the top three, selected by nearly half of the respondents. According to another late 2023 study, Instagram was the social media platform most brands used for influencer marketing in Brazil. TikTok and YouTube followed, mentioned by around 60 and 40 percent of participating companies, respectively.

Influencer marketing in Mexico

Meanwhile, Mexico's most popular influencer genres also included film, TV, and music, but comedy also made it to the top three – all mentioned by over half of consumers surveyed in 2023. The North American country harbors influencers such as Kimberly Guadalupe Loaiza Martínez, better known as Kim Loaiza, and actress and singer Danna Paola, both of which had over 30 million Instagram followers as of early 2023.