The confidence of marketers in the U.K. appears to be growing despite the economic turmoil being experienced around the world, with the majority having seen their marketing budgets grow this year.
According to The CMO 75 Report released by the Chartered Institute of Marketers (CIM), there has been a rise in marketing budgets for 59% of those interviewed this year, with 18% having seen a decline. Over half (53%) said that they expected to see their budgets grow by an average of between 11 and 20% next year, which would be lower than the 21-30% experienced in 2022.
The report recorded a rise of two points in confidence for the industry next year, despite confidence in the prospects of the U.K.
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