The findings suggest an immediate downturn with 48% saying they have already seen up to 30% budget cuts in April and 20% saying they have paused all Ads until further notice.
With Ramadan expected to start within weeks, there are still 38% saying they had yet to make decisions on Ramadan budgets while 51% are unsure about the direction of second half budgets, suggesting a high proportion of marketers are in ‘wait-and-see’ mode.
Winners in the 2nd half are expected to be Performance media with 59% of respondents suggesting they would increase Performance media budgets.
Overall, 77% of respondents report that Covid-19 will have a more significant impact on MENA marketing budgets than the 2008/9 Financial Crisis.
About the IAB.GCC: The Interactive Advertising Bureau (IABGCC), from its base in Dubai, empowers GCC based media and marketing industries to thrive in the digital economy. Its membership is comprised of the leading media and technology companies that are responsible for selling, delivering, and optimizing digital advertising or marketing campaigns in the GCC. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing.
For more information: info@iabgcc.com