HONG KONG TO OUTSTRIP US FOR THE FIRST TIME IN AD SPEND PER CAPITA IN 2008
December 11th 2007 02:58
Media buying network GroupM is predicting an 11 percent growth in advertising spend in 2008, up from 8 percent this year, with the buoyant economies of China and Hong Kong driving the growth.
A new study from media buying network GroupM titled This Year, Next Year, predicts that advertising spend in the Asian region will increase 11 percent, with growth from China up 28.8 percent, from 18.8 percent this year.
Marketing reports that he GroupM forecast follows recent comments from Patrick Stahle, ceo of Aegis Media Asia Pacific, who tipped a 9.5 percent growth in ad spend around Asia in 2008, driven largely by growth in digital media and the Chinese economy.
Online growth in China is tipped to jump 58.1 percent, with the Hong Kong online ad market up 25 percent.
GroupM Futures director Adam Smith, who oversaw the study, said, "The main geographic contributors to growth next year are predicted to be China, with 21 percent of all new money, and Russia and Brazil with each contributing 6 percent."
-From MediaBlab
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