APAC adspend forecasts show growth, and China muscle

Regional - Carat adspend forecasts for Asia Pacific predict a steady growth in 2007 of 7.8% from 7.3% in 2006, while first forecasts for 2008 state a significant acceleration at 9.3%.

According to Carat, the single biggest impact comes from the continuing expansion of the market in China where at 20.9%, is growing over three times faster than the global advertising industry, and achieving double-digit growth in every single major medium. The study predicts global adspend growth in 2007 to be at 5.8% and first forecasts for 2008 expect the figure will rise further to 6.4%.

The study also suggests that the region's highest spending categories on advertising this year will be mobile communications, automotive, entertainment, fast food, and jewellery, reflecting the growing wealth of Chinese consumers and early signs of brand investment ahead of the 2008 Beijing Olympics.

"Looking beyond individual country trends, the global picture is one of healthy growth.  At 5.8% this year and 6.4% next, global adspend is comfortably outgrowing world GDP.  2007 is an exciting moment in advertising:  media, entertainment and consumer behaviour are evolving on a daily basis.  But while digital continues to outpace all other media in every corner of the world, rumours of the death of so-called ‘old media' are exaggerated.  In some parts of the world, demand remains vibrant.  At the same time, we are watching a variety of new hardware, formats and services with interest," Mainardo de Nardis, CEO for Aegis Media said in a statement.