The advertising industry has supported the global economy for quite some time now, but just how much of an impact does it have? A new report from The Advertising Coalition seeks to shed some light on that, and it revealed that advertising was responsible for around $7.1 trillion in sales in the US in 2021, with represented around 18.5% of America’s Gross Domestic Product for that year among various other impacts that it had.
With all of that having been said and now out of the way, it is important to note that advertising also appears to have created tens of millions of jobs, with around 28.5 million US based jobs relying on advertising or being supported by it in some manner or another. These jobs represented around 20% of the jobs that were available in the US, thereby revealing how intrinsic advertising is to the American economy and how it is helping tens of millions of Americans stay employed as well as driving growth for the economy as a whole.
This is up from the $5.1 trillion in sales that advertising was responsible for in 2014, and the jobs that advertising created went up to 28.5 million last year from 20 million in 2014 with all things having been considered and taken into account. This suggests that the industry’s impact is growing at a rapid rate, and it is starting to represent and increasingly large portion of the overall American economy.
According to what we can see in the data compiled in this report, sales that are sparked by advertising will increase to $9.5 trillion by 2026. The advertising industry will also support in excess of 31.5 million jobs by 2026, so it is clearly a major driver of growth for the US economy.
The average advertising related job offered a salary that was 13% higher than the national average, more specifically around $72,000 per annum. The profit that can be made in advertising is likely going to make its future growth exponential and it will be interesting to see how that turns out.
Read next: After Plummeting in 2021, Marketing Budgets Rise to 9.5% in 2022
With all of that having been said and now out of the way, it is important to note that advertising also appears to have created tens of millions of jobs, with around 28.5 million US based jobs relying on advertising or being supported by it in some manner or another. These jobs represented around 20% of the jobs that were available in the US, thereby revealing how intrinsic advertising is to the American economy and how it is helping tens of millions of Americans stay employed as well as driving growth for the economy as a whole.
This is up from the $5.1 trillion in sales that advertising was responsible for in 2014, and the jobs that advertising created went up to 28.5 million last year from 20 million in 2014 with all things having been considered and taken into account. This suggests that the industry’s impact is growing at a rapid rate, and it is starting to represent and increasingly large portion of the overall American economy.
According to what we can see in the data compiled in this report, sales that are sparked by advertising will increase to $9.5 trillion by 2026. The advertising industry will also support in excess of 31.5 million jobs by 2026, so it is clearly a major driver of growth for the US economy.
The average advertising related job offered a salary that was 13% higher than the national average, more specifically around $72,000 per annum. The profit that can be made in advertising is likely going to make its future growth exponential and it will be interesting to see how that turns out.
Read next: After Plummeting in 2021, Marketing Budgets Rise to 9.5% in 2022
