Despite the international climate marked by political and economic volatility, Spanish companies are not dragged by pessimism. The last Expectations Index of Marketing Directors (IEDM), prepared by the Spain Marketing Association (AMKT) and GFK – Nielseniq Company, reveals that most large companies trust to close 2025 with an increase in their sales, even in a less favorable context than in previous exercises.
The report, which includes the forecasts of more than 200 marketing directors of key sectors such as energy, banking, technology or great consumption, leaves a clear conclusion: prudence has not replaced growth as a priority objective.
Although general expectations show a slight setback with respect to the first semester, the figures remain solid. Sales forecasts grow 3.6%, and confidence in their own market behavior remains positive, with a +2.3. In fact, the latter remains in line with the evolution observed since 2022.
The closure of the first semester has been better than expected for 37% of companies, 35% have met objectives and only 28% have been below the expected. Among the most optimistic sectors, insurance, energy, banking and technology stand out. On the opposite side, media and great consumption show more caution after not reaching their initial goals.
A new report shows how companies raffle macroeconomic pessimism with confidence in the market and their own growth strategies
“We are faced with a complex environment, but companies are demonstrating a great ability to adapt, maintaining the focus on the medium -term strategy,” they point out from GFK, responsible for the technical execution of the study.
Trump, inflation and the national economy, in the radar of managers
One of the most striking turns regarding previous editions of the IEDM is the growing weight of external factors in corporate planning. Donald Trump’s possible return to the US presidency has climbed as a business concern: 61%believe that their policies could directly impact their activity, even above factors such as the variation of interest rates (60%) or the political climate in Spain (59%).
Even so, large conditions remain local: the forecast of economic growth (78%) and inflation behavior (75%) continue to mark the business decisions compass.
More marketing, more advertising: the digital commitment intensifies
Faced with this panorama, Spanish companies choose to reinforce their brand presence and attraction ability. The marketing budget will remain on the rise in the second semester, with a growth of 2.7%, which will make its weight on the total income ascends from 7.5% in 2024 to 8.1% this year.
The advertising investment also gives recovery signs, rising 0.7 points to a +1.9, a considerable improvement with respect to the same period of 2024 (+0.5). “This increase reflects a clear will of the companies for not stopping the rhythm in an environment that, although uncertain, continues to offer opportunities,” explains Antonieta MartÃn, communication director of GFK.
The online channel is consolidated as a fundamental axis. 61% of companies already allocates more than 40% of their advertising investment to digital supports, and 83% exceed 20%. To this is added the impulse of the e-commerce: 46% already sells more than 5% of their products through the Internet, and half of the marketing responsible is declared satisfied with those levels.
IEDM as an economic thermometer
The FDI, which acts as an advance indicator of GDP behavior, is once again in tune with other economic trust rates such as those elaborated by the OECD or the INE. In the words of experts, its usefulness goes beyond marketing: it allows anticipating business movements that, in the end, end up reflecting in the general evolution of the Spanish economy.
Thus, while the global environment raises challenges, companies seem determined to make investment their best defense. Because even in uncertain times, growth remains an option.
