The latest insights from the IAB MENA’s annual adspend survey for 2023 are here. The Middle East adspend market has reached a historic milestone, surpassing the $6 billion threshold for the first time. This achievement underscores the region’s growing influence in the global advertising landscape.
Key highlights from the report:
Record-Breaking Growth: In 2023, the MENA region’s adspend recorded a remarkable double-digit growth of 13.6%, despite falling short of the projected 17% growth.
Global Comparison: The MENA market outpaced Europe by 2.5% and the US by 6.3% in adspend growth.
Top Performers: The UAE and Saudi Arabia led the region, with adspend growth rates of 14.1% and 16.1% respectively.
Trends and Predictions:
Digital Dominance: The report highlights a significant shift towards digital ad spend, with video content gaining prominence over static outreach, particularly on social media platforms.
Emerging Formats: IAB MENA forecasts substantial growth in Connected TV (CTV), out-of-home digital advertising, gaming, mixed reality segments, and retail media.
IAB’s comprehensive report covers data from 16 MENA markets, utilizing a multi-method approach that includes financial analysis, statistical modeling, and in-depth interviews. It also assesses the impact of global crises on regional adspend and predicts future trends.
For more detailed insights and to read the full report, click here.
