Marketing: Canada's Unsung Economic Giant Rivaling Oil & Gas

OTTAWA, ON – March 24, 2026 – Long viewed as a peripheral business expense, Canada's marketing sector has quietly emerged as a formidable economic force, contributing an estimated $130.9 billion to the nation's GDP in 2024. A landmark study by Signal49 Research, formerly operating as The Conference Board of Canada, reveals that marketing's economic footprint now rivals that of traditional heavyweights like the retail trade and oil and gas extraction sectors.

The findings, which show a dramatic 39% increase from $94 billion in 2019, are forcing a profound reassessment of marketing's role, repositioning it from a creative cost centre to a core driver of national prosperity, employment, and innovation.

An Unsung Economic Powerhouse

The scale of marketing's contribution extends far beyond its impressive GDP figure. The new research indicates the sector supported nearly 861,500 jobs across Canada in 2024, a significant jump from 754,200 just five years prior. This means marketing activity now accounts for one in every 25 jobs nationally, generating close to $75 billion in labour income. Notably, these roles are not only plentiful but also lucrative, with average annual earnings estimated to be 30 per cent higher than the national average, reflecting a strong and growing demand for marketing expertise.

"Marketing has emerged as a prominent contributor to Canada's economy," said Alan Chaffe, Associate Director of Economic Research at Signal49 Research. "While marketing roles are changing as digital technologies and artificial intelligence continue to transform how organizations engage with consumers, marketing is playing an increasingly strategic role in shaping innovation, growth, competitiveness, and our economy."

This economic impact also translates into substantial public revenues, with marketing activities generating an estimated $47.8 billion for government coffers in 2024, a sharp increase from $34.4 billion in 2019. This includes $23.7 billion in federal and $20.5 billion in provincial tax revenues.

This trend is not unique to Canada. Similar studies in other developed nations underscore the growing economic clout of the advertising and marketing industries. In the United Kingdom, marketing contributed £109 billion to its GVA in 2024, while in the United States, advertising activity was responsible for nearly 22% of the total economic output, supporting 29 million jobs.

Esther Benzie, President and CEO of the Canadian Marketing Association, emphasized the sector's foundational importance. "Marketing plays a mission-critical role in Canada's economic success because it's foundational to how every business connects, competes, and innovates," she stated. "At $130.9 billion in GDP impact... marketing doesn't just support our economy, it drives it forward."

The Digital Engine Driving Growth

The explosive growth in marketing's economic contribution is inextricably linked to the sector's profound digital transformation. The era of Mad Men has definitively given way to machine learning, data analytics, and hyper-targeted online campaigns. Canadian businesses have been quick to adapt, with investment in digital marketing growing by 32% since 2020.

Digital channels accounted for over 68% of total advertising spending in Canada in 2022, and that figure is projected to surge to nearly 77% by 2025. This shift is fueling a boom in digital ad revenue, which climbed to an estimated $18.2 billion in 2024 and is forecast to exceed $21 billion next year. This digital gold rush is being led by investments in video advertising, social media campaigns, and burgeoning retail media networks, which allow retailers to sell ad space on their own digital properties.

This migration is not without casualties. Traditional advertising channels have seen a corresponding decline, with spending falling by 22% year-over-year in a recent monthly analysis. Budgets once allocated to linear television are now being redirected to social media platforms, streaming services, and other forms of connected TV advertising. Small and medium-sized enterprises (SMEs) have been particularly agile, with over three-quarters increasing their digital marketing budgets in the past year, leveraging the accessibility and measurable returns of online platforms.

New Frontiers, New Rules

This rapid, technology-fueled expansion brings both unprecedented opportunity and significant challenges, most notably in the realms of data privacy and the use of artificial intelligence. The very tools that make digital marketing so effective—personalization, behavioural tracking, and AI-driven analytics—also heighten public and regulatory scrutiny over how consumer data is collected, used, and protected.

The Signal49 report underscores this tension, noting that marketing's growing influence on consumer behaviour is raising expectations for responsible data stewardship. This places the industry at the centre of a critical national conversation about privacy in the digital age.

The Canadian government has sought to address these concerns with proposals like Bill C-27, the Digital Charter Implementation Act. Though it did not pass before the last election was called, the bill signaled a clear legislative direction. It aimed to grant consumers greater control over their personal information and establish a framework for the responsible development of AI. For marketers, such legislation would likely mean stricter consent requirements, potentially limiting the use of the "legitimate interest" exception for many marketing activities and demanding greater transparency about how AI systems are used to target consumers.

As organizations increasingly use AI to analyze customer data and personalize advertising, they must navigate a complex web of privacy laws. The consensus among legal and privacy experts is that transparency, clear user consent, and robust data protection are no longer optional—they are essential for maintaining consumer trust and ensuring sustainable growth.

From Cost Centre to Competitive Advantage

The report makes a compelling case that strategic marketing is a powerful driver of business performance. Companies that invest in building strong brands and executing effective marketing strategies consistently outperform their peers, achieving higher sales, stronger operating income, and greater resilience during economic downturns. Research shows that 82% of Canadian businesses report a higher return on investment from digital marketing compared to traditional channels.

The economic impact is felt nationwide, though it is concentrated in Canada's two largest economies. Ontario and Quebec together account for more than two-thirds of marketing's total GDP contribution. However, the share of GDP generated by marketing activity has increased across all provinces between 2019 and 2024, with Ontario and Nova Scotia experiencing the most significant gains, highlighting the sector's broadening influence.

Ultimately, the new data challenges businesses and policymakers to view marketing not as an expenditure to be minimized, but as a strategic investment in competitiveness and growth. In an increasingly digital and global marketplace, the ability to connect, persuade, and build lasting customer relationships is no longer just a part of the economy; it is a fundamental driver of it.