Ad spend in Hungary amounted to HUF160.06 billion (€520 million) in 2016, a 12.11% increase on the previous year.
However, the Hungarian Advertising Association (MRSZ) notes that the figures do not include TV advertising, the totals for which have yet to be compiled for 2016.
In the absence of these figures, it adds that although the growth is encouraging, it was impacted by an 80% increase in government ad spend and major sporting events such as the Euros and Olympic Games.
At the same time, the advertising industry continues to be troubled by the ad tax.
Online’s share of total ad spend, excluding TV, increased from 37.5% in 2015 to 40% last year.
Furthermore, global online advertisers raised their spend in Hungary by 25% in 2016.