E-commerce is booming and the economic prognosis is generally favorable in Southeast Asia. The amount spent on advertising, including digital advertising, has not yet surpassed amounts observed elsewhere. For marketers and advertisers, Southeast Asia continues to be a region with enormous unrealized promise.
What will Southeast Asia's total and digital ad expenditure look like in 2023, and how do the region's nations stack up against one another and the rest of the world?
Digital ad spending in the region will increase by more than 10% again this year, but digital will account for a small proportion of total ad spending compared with the rest of the world.
- Southeast Asia plays a small part in global ad spending, but its potential is tantalizing.
- While having a smaller share of the market than non-digital, digital advertising spending is increasing more rapidly.
- Compared to the rest of the globe, Southeast Asia has not yet adopted digital advertising to the same degree.
In terms of the growth of digital ad spending, the region will be in the center of the pack.
- Indonesia and Thailand will take the lead in Southeast Asia.
- Given their relative sizes, Indonesia underspends on promotion, and Singapore overspends.
- The digital transformation of the region's marketing industries is lagging in every nation.
- Like everywhere else, mobile is dominant in Southeast Asia.
- Indonesia continues to hold the most potential in a market that is largely underdeveloped for advertising.
Source: InsiderIntelligence.com
