Digital advertising lags in tech savvy Singapore: PwC survey

Singapore

IN today's digitally connected world, Singapore exhibits an interesting dichotomy that is perhaps unique. At 85 per cent, the country has the world's highest level of smartphone penetration and its population is among the most tech savvy in the world. Yet in online advertising, which should thrive in such an environment, the Republic ranks well below international averages.

Singaporeans spend an average of 40 per cent of their time on online media each day, the highest rate of digital consumption in the world. This makes the low digital spend - one of the lowest proportions among developed countries - all the more surprising.

Greg Unsworth, technology, media and telecommunications industry leader for PwC Singapore, notes that although the proportion of advertising budgets allocated to online has grown rapidly, climbing from just 7 per cent in 2011 to 15 per cent this year, with a compound annual growth rate of 35 per cent, Singapore is still far behind the UK, China, Australia, United Arab Emirates …