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Ad spending topped $30bn in 2010

Total advertising expenditure for the full 2010 year jumped a healthy 19% to $31 billion, buoyed by Hong Kong’s rising economic conditions.

Fresh data from monitoring group admanGo shows a strong 20% increase in spending in the first half of 2010 was behind the good result.

Overall the banking and investment community was again the biggest spending category, lead by HSBC which spent $280 million and Citibank, which showed the most significant increase of all advertisers spending $188 million.

Last year Olay and MTR Corporate both dropped out from the top 10 list, ranking number 12 and 14 respectively.

Parknshop successfully caught up with Wellcome due to a significant increase in
adspend in the second half of the year.

Television and newspapers continued to take the lions share of ad budgets with TV at 36% and newspapers at 31.3%. Outdoor was the next biggest beneficiary taking close to 10%.

Other top 10 advertisers included McDonald’s ($228 million), Wrigley ($209 million), Parknshop ($202 million), Fortune Pharmacal ($195 million), Wellcome ($188 million), Canon ($185 million), PCCW ($165 million) and SK-II ($159 million).

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