With a population of over 7 million, Hong Kong serves as a gateway to opportunities in Mainland China and also a strategic location in Southeast Asia. This city holds much potential for marketers because it is a multicultural hub wherein more than 1,500 regional headquarters of global companies are located.
Due to the rapid digital transformation across the globe, and Hong Kong, in particular, there has been an increase in demand for digital advertising and online marketing services. In fact, a survey conducted by the Hong Kong Advertisers Association (HK2A) and market analytics company Nielsen found that the region’s 100 major marketers plan to spend about 60% of their budget on digital advertising and 40% on traditional media strategies. Additionally, a survey also done by the same institutions in 2020 indicates that online advertising spending is expected to continue to rise with most respondents saying that their company will spend more money on online advertising in the upcoming years. Out of the budget allotted for digital, a substantial portion is spent on social media marketing.