Budget
There has been only the most marginal increases in overall IR budgets this year. The global average IR budget for 2022 is $336,000, a rise of just $1,000 from 2021. This also means there has been a mere $7,000 variation in the global average for IR budgets over the past three years. This represents a stabilization in IR budgets after a long-term decline. The global average budget in 2012 was $552,000. The four years from 2013 to 2016 saw the average fall by more than $100,000. The following four years from 2017 to 2020 saw a further fall of more than $100,000 so that, by 2020, the global average IR budget was down to $329,000. According to company size, both small-cap and large-cap IR budgets have seen notable increases, with small-cap averages rising by $29,000 and large cap by $37,000. Mid-cap and mega-cap budgets have fallen back this year, with both having seen an increase in 2021. The proportion of IR budgets spent on external services remains at 28 percent, meaning the global average spend on external services in real terms is $94,000. While all other cap sizes have seen a slight drop in the proportion of their IR budget spent on external services, the amount small-cap companies spend has risen from 26 percent in 2021 to 31 percent this year.
