The advertising industry is responsible for 2.1% of Australian total GDP, according to the Deloitte Access Economics report, Advertising Pays.
The independent study values the advertising industry’s impact at $53 billion in 2022.
For context, the accommodation and food services industry is worth $47 billion, the telco industry is worth $52 billion, and the entire construction industry is worth $89 billion.
$17.7 billion was spent on advertising for the year, the highest on record.
It’s interesting to note in the chart below how advertising spend dipped in 2009, during the global financial crisis, yet has risen over the past few years, despite cost-of-living concerns curbing retail spend.
Advertising’s impact has grown by $13 billion a year since 2014, growing at a faster pace per capita than in many other developed countries.
The advertising industry employs 85,917 Aussies in direct roles, and another 67,465 in indirect roles.
Advertising-supported industries employ yet another 91,476 Australians, as seen in the pleasing infographic below.
The report was commissioned by Advertising Council of Australia, the Australian Association of National Advertisers, and the Media Federation of Australia (MFA), and will be launched this morning by Michelle Rowland, the Minister for Communications.
John O’Mahony, partner at Deloitte Access Economics Australia, said the report quantifies the economic impact of advertising to our economy.
“Advertising promotes competition and innovation by facilitating the transfer of information and by helping businesses reach potential customers. This, in turn, supports economic growth – delivering a $53 billion impact in 2022.”
AANA CEO, Josh Faulks, said advertising is “often overlooked as an economic driver” in Australia.
“Through tough economic times, we have continued to see remarkable growth, outpacing many other countries on a per capita basis,” he said.
“The importance of the advertising industry to a prosperous Australian economy cannot be understated.”
