Advertising revenue recovers to 80% of pre-pandemic levels

The current revenue of the local advertising industry is estimated to have recovered to about 80% of 2019 levels, said Eric Ho, chairman of the Association of Advertising Agents. However, the association remains wary of the sector’s recovery as “European and American brands switch to the Singapore market.” Currently, the sector relies on the SAR government’s increasing overseas promotion efforts in the second half of the year, as the city will hold a number of large-scale events and competitions that require advertising investment.