Advertising Pays - Deloitte Access Economics Report
Posted 29 April 2021.
Businesses in this country spend billions on paid advertising every year – over $3 billion. But what impact does this investment have on economic growth, employment, social change and innovation? It’s all in Advertising Pays - a comprehensive report by Deloitte Access Economics.
Advertising contributes $6bn to the New Zealand economy. That’s 2.4% of GDP and equivalent to six months spending by international tourists.
Over 44,000 New Zealand jobs are associated with advertising. Advertising employs 12000 people in New Zealand with another 32000 employed in the advertising supply chain or industries supported by the industry.
Advertising builds business success. It drives sales and builds brands. By involving an advertising agency at the corporate strategy level business can maximise the potential of not just advertising but broader business objective.
Creative advertising works harder. Successful campaigns can return $17 for every dollar spent.
And we are globally recognised for our creativity. New Zealand creative work performs highly in global awards and a Cannes Lions Global Creativity Report ranked Auckland as the 4th most creative city in the world; ahead of Sydney, Tokyo and Bangkok.
Advertising drives social change. By helping government connect with the public, advertising can deliver positive behavioural change. The NZTA ‘Legend’ drink drive campaign is estimated to have saved 64 lives over the 3 year campaign. A $3.6m spend that delivered a $290m cost saving for society.
It’s all in Advertising Pays. Take a look.