Egypt’s outdoor advertising market grows by 20% in 2023, reaching EGP 3.9bn

AdMazad, the developer of Egypt’s only out-of-home (OOH) advertising performance measurement and analytics tool – AdMetrics, released its annual market report, revealing that the total outdoor advertising rental in 2023 reached a record high of EGP 3.9bn, up from EGP 3.2bn in 2022, despite the challenges. The report is based on audits from 42,700 billboards across Greater Cairo and Alexandria.

The market’s strength was driven by multiple factors, including sector diversification, regional expansion, and data-driven decision-making. The FMCG industry emerged as a significant growth engine, with a notable 80% increase, following the real estate sector, which remained the top spender from last year. This growth was fueled by strategic expansion into the Delta and Upper Egypt governorates, catering to the evolving needs and increasing purchasing power in these regions, which are expected to grow further in 2024. Moreover, the shift towards data-driven decision-making, facilitated by platforms like AdMazad’s AdMetrics, enabled brands to recognize untapped potential in emerging demographics, thus optimizing ad spend allocation and campaign performance.

“2023 saw an impressive 8% increase in brands embracing OOH advertising, showcasing the market’s resilience and effectiveness in reaching mass audiences. Furthermore, the limited currency exposure of the medium resulted in a growing share of OOH in the media mix of large advertisers, fueling a remarkable 20% annual growth,” said Assem Memon, Founding Partner and Managing Director at AdMazad.