Investment in marketing in Spain reached 33,841 million euros in 2024, according to the AMES study prepared by the Spanish Marketing Association (AMKT) and InfoAdex. The figure represents an increase of 4.8% compared to the data recorded in the previous edition of the report, and although it reflects the sustained growth of the sector with respect to the pandemic, it also points to a slight trend towards a slowdown in the pace of growth.
And although investment grows for the fourth consecutive year, it does so below the previous two years, when the growth rate stood at 4.9%. Furthermore, the AMES study forecasts for 2024 estimated that growth would be 5%, but in the end it was 4.8%.
The report, which analyzes the economic impact of marketing by function and sector in our country, indicates that the investment volume is close to reaching 2019 levels, which reflects a positive evolution of the industry. According to AMKT, growth is above inflation (2.8%) and the sector already represents 2.10% of Spanish GDP.
The slowdown seems to mark 2025. Estimates from AMKT and InfoAdex point to greater uncertainty in advertising investment, with growth of around 2.5% for this year. The investment would reach 34,318 million euros.
They indicate that the data is in line with GDP growth forecasts, between 2.4% and 2.9%. This is due, despite the positive performance of the Spanish economy, to the instability generated by geopolitical conflicts or tariff policies.
The distribution of marketing investment
Regarding the distribution of marketing investment by disciplines, Advertising, Communication and Promotion leads with 20,159 million euros, thanks to a growth of 5.8% compared to 2023. The discipline represents 60.2% of the total marketing investment.
The second item by volume is Personnel Costs in marketing functions, which total 4,363 million euros, and represent 13% of the total investment. The item has experienced an increase of 5.8% compared to 2023.
Investment in Brand and Customer Relations decreased by -2.3%
Investment in Brand and Customer Relations reaches 3,623 million euros. It is the only category that has experienced decreases (-2.3%) compared to the previous edition of the report. It represents 10.8% of the total investment in marketing.
On the other hand, Investment in Price (discounts) reaches 3,369 million euros, that is, 6.3% more than in the previous year, and becomes the item that grows the most. It represents 10.1% of the total investment.
Finally, investment in Market Research and Consulting has stood at 1,964 million euros, with an increase of 4.3% compared to 2023. It represents 5.9% of the total investment in marketing.
Focusing on the channels, according to the report, investment in digital marketing amounted to 4,342 million euros in 2024: this means 5.6% more than in 2023. The figure represents 12.9% of the total invested in marketing, the same as in the previous year.
Investment in digital marketing also represents 21.5% of the total allocated to advertising, communication and promotions; and 70% of the total dedicated to controlled media.
Employment in marketing
According to the report, in total the industry employed 129,972 people in 2024, which represents a growth of 2.1% compared to the previous year. The figure, however, is lower than the growth obtained in 2023 and 2022, which indicates a decline in employment, either due to fewer hires or the flight of professionals.
AMKT and InfoAdex highlight other data. Among them, the number of companies with more than 10 employees and at least one million euros in turnover grew by 2.5%. Also that salaries in the sector rose by 1.9%.
