The Canary Report, which is published by market research platform Glow and strategy firm Planning Dirty, is based on a study of 435 planners and strategists in 50 countries.

The report found that there was an average 25% cut to marketing budgets, with campaign activity contracting by 11% and pitch activity down 15%.

Campaign spending reductions were on average 75% in the tourism sector and in hospitality they were down 42% and by half in the automotive industry.

The study also suggests that some sectors put on hold during the lockdown are now starting to recover as restrictions are lifted worldwide, and many agencies are pitching more during the pandemic.

Tim Clover, chief executive of Glow, said: “While the focus of activity appears to be more tactical than strategic, those working in food and drink, government, finance and retail are starting to see more new business opportunities, which is great news.”

The anonymous online survey was conducted over five days in May. Respondents were from the Planning Dirty subscriber list.