Study Highlights Economic Benefits of Advertising
A new study commissioned by The ADvertising Coalition highlights the importance of advertising to the U.S. Economy. The ADvertising Coalition is an alliance of AAF and many corporations and associations representing various facets of the advertising industry.
Among the study’s findings:
- Advertising supported $5.8 trillion, or 16 percent, of the $36.7 trillion in U.S. output. Advertising also supported 20 million, or 14 percent, of the 142 million jobs in the U.S.
- Every dollar spent on advertising, on average, generated about $19 of economic output or sales.
- The total impact of advertising represented 19 percent of U.S. GDP.
- Every one million dollars spent on advertising supported 67 American jobs throughout the U.S. economy.
- Every direct advertising job supported another 34 jobs across all industries.
The study was conducted by HIS Economics and Country Risk. It is an update of a study first designed and developed under the direction of Dr. Lawrence R. Klein, recipient of the 1980 Nobel Prize for Economics.