Agency cuts outlook for ad spending

Estimate reduced to 2.2% from 4.5%

- SUCHIT LEESA-NGUANSUK

Digital media agency Media Intelligence Group (MI) has revised down its growth forecast for advertising and marketing spending in Thailand this year to 2.2%, representing 87.6 billion baht in total spending, from an earlier projection of 4.5% growth, citing unfavourable economic conditions.

Despite the economic slowdown, the company said there are still opportunities for brands by using a balanced mix of online and offline channels to navigate challenges.

MI also emphasised the importance of recognising the purchasing power of key targeted groups, ranging from retirees to migrant workers.

"We realise the challenge of economic turmoil from the recent earthquake, the decline of Chinese tourist arrivals and the US's reciprocal tariffs that affect marketers' spending," said MI chief executive Pawat Ruangdejworachai.

The company's revision of the outlook for advertising and marketing spending is in line with the country's GDP growth forecast as well as the forecast for digital ad spending that is expected to grow 10% to 34.5 billion baht in 2025.