The economic, employment and business value of advertising
The Commercial Communications Council 2017
The Commercial Communications Council asked Deloitte Access Economics to examine the economic, employment and business value of advertising. The report found that advertising is a critical way for businesses to connect with customers and drive revenue growth. Investments in advertising can deliver strong returns for business, and in an environment with changing customer preferences and disruptive technologies, businesses can also use advertising to achieve their strategic objectives.
Advertising also plays an important role in our economy and society. The industry is a significant employer in its own right and advertising is a critical driver of competition, lower prices, and productivity growth. It can help governments connect with the public and drive behavioural change.
We estimate that advertising in New Zealand was worth 2.4% of GDP, or $6 billion in 2015. This is a significant economic contribution, roughly equivalent to what tourists spend in New Zealand every six months. Furthermore, the advertising industry is a significant employer. Over 44,000 jobs are supported by advertising in New Zealand, including over 12,000 people directly employed in advertising.
This report re-examines advertising’s role in contributing to business success in a changing economic climate, based on insights from New Zealand’s business leaders.