According to Zenith’s latest international estimates, travel ad spend is set for a 36% annual rise in 2022.
Though travel ad spending is expected to rise 36% annually in 2022, it will not return to pre-pandemic levels until 2023. The media agency also projects a total of $16.4 billion for advertising on airlines and accommodation next year across major markets, including the UK, US and China.
The report highlights that India and Russia will see the most significant rises in travel ad spend between 2019 and 2023, with ad spend rising by 31% and 21%, respectively. But, the agency also warned that it would be “a long road back to pre-pandemic spending” after the travel ad market lost nearly half of its value in 2020, compared with just a 4% contraction across the whole ad market.
According to the study, “Here, rising disposable incomes mean more people are travelling, and existing travellers are travelling more frequently.” The pandemic has made people realise the value of domestic travel, which is expected to benefit the sector.
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