Marketing Budgets Continue to Decline Globally-New Study Reveals
Marketing budgets continue to decrease across all regions, with Europe seeing a slight easing condition, according to the latest Global Marketing Index (GMI).
Developed by WARC, the GMI is a monthly indicator of the state of the global marketing industry based on current conditions among practitioners. An index value above 50.0 indicates growth, while below 50.0 suggests a decline. Practitioners who complete the survey receive the full analysis report.
Tanking to the bottom (33.1) in October 2022, marketing budgets in Europe saw a slight ease and recorded the slowest decline last month (48.1) since entering a decline more than a year ago. Asia Pacific also entered a decline, albeit with a slight improvement last month. Americas had the worst marketing budget conditions at an index of 41.2.
Digital channels (inc. mobile) and out-of-home continue to see marketing budget growth in Europe and at the quickest rate compared to the global average.
Trading conditions entered a decline for all regions again just after Asia Pacific recorded growth last month. However, Asia Pacific was the only region to see growth in staffing levels in June, at an index of 50.6.
The Global Marketing Index provides a unique monthly indicator of the state of the marketing industry.