Advertising - Greece | Statista Market Forecast

Ad spending in the Advertising market in Greece is forecasted to reach US$1.62bn in 2024.
The country's largest market is TV & Video Advertising with a market volume of US$572.90m in 2024.
When compared globally, the United States is expected to have the highest ad spending, reaching US$425.90bn in 2024.
Within the Advertising market of Greece, 65% of total ad spending is projected to come from digital advertising in 2030.
The average ad spending per capita in the TV & Video Advertising market is estimated to be US$55.61 in 2024.
Additionally, in Greece's Advertising market, Advertising market of the 75% revenue is anticipated to be generated through programmatic advertising in 2030.
Greece's advertising market is increasingly shifting towards digital platforms, reflecting changing consumer behavior and technological advancements in the country.

Definition:
Advertising spending refers to expenses for promotional strategies with which brands or businesses purchase advertising space to promote products or services. The primary purposes of advertising include creating awareness, generating interest, and persuading consumers to take a particular action such as purchasing a product, visiting a website, or supporting brands. Advertisers use advertising to reach their target audience while media companies and advertising agencies use it as a source of income.

Structure:
The advertising spending consists of two main channels (traditional advertising and digital advertising). Traditional Advertising refers to above-the-line media that delivers commercial messages to broad audiences. This includes mass media such as traditional TV, traditional radio, printed newspapers, printed magazines, and traditional out-of-home (OOH) advertising formats. Digital Advertising uses the internet to deliver marketing messages to internet users in various forms. This includes digital video, search engine, social media, digital out-of-home, digital banner, digital audio, digital classifieds, and influencer advertising.

Additional information:
The market comprises advertising spending, share by advertising channel, users, average revenue per user, advertising share by industry, ad spending by medium, and digital ad spending share (programmatic and non-programmatic). The market only displays B2B spending and users for the above-mentioned channels. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions for each market can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional advertising such as non-digital ads for TV and radio, as well as out-of-home advertising and print advertising
Digital advertising such as online ads for video, banner, audio, classifieds, and search engines, as well as digital out-of-home, social media, in-app, and connected TV advertising
Influencer advertising

Sponsorships/events and promotion
Product placement
Commission-based affiliate systems

The Advertising market in Greece has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Advertising market in Greece have shifted towards digital platforms, with consumers increasingly relying on online channels for information and entertainment. This trend is driven by the widespread adoption of smartphones and the growing popularity of social media platforms. As a result, advertisers are redirecting their budgets towards digital advertising formats such as display ads, video ads, and social media campaigns to reach their target audience more effectively. In addition to digital advertising, there is also a growing demand for personalized and targeted advertising campaigns. Consumers in Greece are becoming more selective in their choices and are seeking tailored advertisements that resonate with their interests and preferences. Advertisers are responding to this demand by leveraging data analytics and artificial intelligence to create personalized advertising content and deliver it through targeted channels. One of the key trends in the Advertising market in Greece is the increasing importance of influencer marketing. Influencers, who have a large following on social media platforms, are seen as trusted voices and can significantly impact consumer purchasing decisions. Advertisers are partnering with influencers to promote their products or services, leveraging their credibility and reach to engage with their target audience effectively. Another trend in the market is the rise of programmatic advertising. Programmatic advertising uses automated technology to buy and sell ad inventory in real-time, allowing advertisers to reach their target audience more efficiently and at scale. This trend is driven by the increasing availability of data and the need for advertisers to optimize their advertising budgets. Local special circumstances also play a role in the development of the Advertising market in Greece. The country's economic recovery after the financial crisis has created a more favorable business environment, leading to increased advertising spending. Moreover, Greece's tourism industry, which is a significant contributor to the country's economy, has also driven advertising demand, with businesses in the sector looking to attract international and domestic tourists. Underlying macroeconomic factors, such as GDP growth and consumer confidence, also influence the Advertising market in Greece. As the economy continues to recover, businesses are more willing to invest in advertising to drive sales and growth. Additionally, as consumer confidence improves, individuals are more likely to spend on products and services, creating opportunities for advertisers to engage with their target audience. In conclusion, the Advertising market in Greece is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Digital advertising, personalized and targeted campaigns, influencer marketing, and programmatic advertising are some of the key trends driving the market. The country's economic recovery and the importance of the tourism industry also contribute to the growth of the Advertising market in Greece.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year. In some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.