Middle East’s Influencer Marketing domain will hit $1.3-billion valuation in 2023, says report

The Middle East’s Influencer Marketing domain will reach a valuation of $1.3 billion by 2023, a report has said.

The report titled 'The State of Influencer Marketing in UAE 2023’ was launched by YAAP, a new-age specialised content and influencer marketing company, in conjunction with Khaleej Times. The comprehensive report, a first-of-its-kind deep dive into Middle East’s burgeoning influencer marketing domain, was launched at Khaleej Times’ marketing conclave.

A resounding 76.9 per cent of marketers said that influencer marketing is a top priority for their brand after social media, revealing the growing traction of “influencing” within the branding and advertising industries. While overall influencer marketing budgets have grown considerably in 2023, about 76.5 per cent of marketers have channelled the investments from TV, print, and outdoor to influencers, in a telling revelation about the domain’s prospects.

Interestingly, a whopping 79.3 per cent of respondents felt mid-tier influencers are most important to deliver their brand message, with a majority also underscoring the prominence of socially conscious influencers. The technological imperative found emphasis as 71.8 per cent of marketers expressed they measure the engagement of their influencer marketing campaigns. Broadly, the research hinted at the increasing role of AI in influencer marketing in 2023, with virtual or CGI influencers primed for an uptake.