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2018LuxuryAdvertisingExpenditureForecastsPublicisMediaisoneofthefoursolutionshubsofPublicisGroupe[EuronextParisFR0000130577,CAC40],alongsidePublicisCommunications,Publicis.SapientandPublicisHealthcare.LedbySteveKing,CEO,PublicisMediaiscomprisedofStarcom,Zenith,DigitasLBi,SparkFoundry,Blue449andPerformics,poweredbydigital-first,data-drivenglobalpracticesthattogetherdeliverclientvalueandbusinesstransformation.PublicisMediaiscommittedtohelpingitsclientsnavigatethemodernmedialandscapeandispresentinmorethan100countrieswithover23,500employeesworldwide.AboutPublicisMediaLuxuryAdvertisingExpenditureForecasts2018Writtenby:MarineMika,LouisMorales-Chanard,AmberOuandFrançoisThumerelTheseforecastsandthiscompilationarethecopyrightofPublicisMedia.Wehaveproducedthispapertogiveourviewsontopicalmatters.Itdoesnotpurporttogiveanyspecificadvice,andshouldnotbetakenorrelieduponassodoing.©PublicisMediaFrance,20181Introduction2MethodologyIntroduction3OverviewRegionalsummaries9NorthAmerica10WesternEurope11EasternEurope12MENA13LatinAmerica14APAC15Maturemarkets16EmergingmarketsTop12marketanalysis19China21France23Germany25HongKong27Italy29Japan31Russia33SouthKorea35Spain37Switzerland39UnitedKingdom41USA43AppendixContents1LuxuryAdvertisingExpenditureForecasts2018Welcometothe2018editionofPublicisMedia’sLuxuryAdvertisingExpenditureForecasts.Nowinitsfourthedition,ourLuxuryAdvertisingExpenditureForecastsreporthasgrownintoastapleforourclientsandforthemarket.Weareproudtoshareourfindingswithyou.Thisyear,wehaveaddedawholenewcategorytoourreport:luxuryhospitality.Thoughsmall,thissegmentisinstructive.Theluxuryhotelbusinessisgrowingandchangingfast;itisalsoheavilydigitalandisleadingthewayinexperientialmarketingfortheluxurysector.Wehopeyouenjoytheread.LuxuryAdvertisingExpenditureForecasts20182Methodology1.NodisplaydataavailableforPeruorTaiwan.2.NosearchdataavailableforAustralia,Peru,Russia,SwitzerlandorTaiwan.3.NovideodataavailableforAustralia,Brazil,HongKong,Malaysia,Mexico,Peru,Russia,SwitzerlandorTaiwan.4.SocialmediadataavailableonlyforColombia,Germany,Italy,Malaysia,Netherlands,SouthKorea,theUKandtheUSA.5.‘Allotherdigital’dataavailableonlyforChina,Colombia,Italy,Malaysia,MENA,Netherlands,Spain,SwitzerlandandtheUK.6.NodigitaldataavailableforJapanorSouthAfrica.7.Forthehospitalitysub-category:-notavailableforItaly,JapanorMENA.-novideo(from2017),socialor‘allotherdigital’dataforFrance-nodigitaldataforMexico-nosearchor‘allotherdigital’dataforSouthKoreaWehaveupdatedthewayinwhichwecategorisedigitaladvertising.Thisisnowdividedintofivecategories:display,search,video,social,andallotherdigital.Thisreportcovers23markets:Australia,Brazil,China,Colombia,France,Germany,HongKong,Italy,Japan,Malaysia,MENA,Mexico,theNetherlands,Peru,Russia,Singapore,SouthAfrica,SouthKorea,Spain,Switzerland,Taiwan,UnitedKingdomandtheUSA.Ineachmarket,wedefineadvertisingexpenditurefortheluxurysectorasthesumofspendinginfivesub-sectors:luxuryfashion&accessories,watches&jewellery,fragrances&beauty,luxuryautomobiles,and–forthefirsttime–luxuryhospitality.Allexpenditurefiguresareofestimatednetcosts,andarereportedinUSdollars,convertedfromlocalcurrenciesataverageexchangeratesfor2016.NorthAmerica:USAWesternEurope:France,Germany,Italy,Netherlands,Spain,SwitzerlandandtheUKEasternEurope:RussiaAPAC:Australia,HongKong,Japan,Singapore,SouthKorea,China,MalaysiaandTaiwanLatinAmerica:Brazil,Colombia,MexicoandPeruMiddleEast&NorthAfrica:Algeria,Bahrain,Egypt,Iraq,Jordan,Kuwait,Lebanon,Morocco,Oman,Qatar,SaudiArabia,Syria,TunisiaandUnitedArabEmiratesNotincluded:SouthAfricaAboutdigitalThecountriesincludedineachregionare:NotesTableofexchangeratesusedUSD/localcurrency2016CountryCurrency2016AustraliaDollar(A$)1.34BrazilReal3.48ColumbiaColombianPesos3,055.26ChinaYuan6.64FranceEuro(€)0.90GermanyEuro(€)0.90HongKongDollar(HK$)7.76ItalyEuro(€)0.90JapanYen(¥)108.79MalaysiaRinggit4.15MexicoPeso18.66NetherlandsEuro(€)0.90PeruSols3.38RussiaRouble67.06SingaporeDollar(S$)1.38SouthAfricaRand14.71SouthKoreaWon1,160.27SpainEuro(€)0.90SwitzerlandFranc0.99TaiwanDollar(NT$)32.33UAEEmiratiDirham3.67UKPound(£)0.74USADollar(US$)1.003LuxuryAdvertisingExpenditureForecasts201816v151.1%0.7%2.4%2.8%18v1717v1619v18TheluxuryindustryisenjoyinggrowthagainbutadvertisersremaincautiousAveragegrowth(CAGR)ofadvertisingspendbyregion2017-2019(%)5countriescontributingmosttoadvertisingspendgrowth2017-2019(US$million,currentprices)Year-on-yearchangeatcurrentprices(%)289245602723ChinaUSAGermanySpainUKOverviewTheluxuryadmarketsurprisedontheupsidein2016with1.1%growth,aheadofourestimateof0.5%decline,thankstobetter-than-expectedeconomicperformanceinseveralkeymarkets,offsettinggeopoliticalriskfactors.Economieshavesincestrengthenedglobally,withtheOECDrecentlyhighlighting“synchronisedmomentum”fortheworldeconomyin2017and2018.ThisoptimismisechoedbyBain&Company’slatestanalysisoftheluxuryindustry.Afterayearofslightdeclinein2016–thefirstsince2009–Bainestimatesthatglobalpersonalluxurygoodssalesgrew5%in2017toreach€262billion.Thisexpansiondidnotimmediatelyfeedthr