LONDON: Thanks to the upcoming sportsfest, advertising expenditure in the Eurozone is expected to increase by 3.9% in 2008, despite real economic growth slowing to just 1.8%.
The summer's Olympic Games in Beijing and the Euro 2008 football championships, jointly hosted by Austria and Switzerland, will boost adspend in Europe this year, according to the European Advertising and Media Forecast published this week by the World Advertising Research Center in association with the UK Advertising Association.
Adspend in the USA is set to increase by 4.4% this year, helped by the presidential elections and UK adspend is expected to rise by 3.5%.
The internet is showing strong growth in Europe, boosting overall adspend. Spending on online advertising is expected to grow by 30.5% in the Eurozone this year.
Outdoor advertising is also expected to show above-average growth across the region. Within the the fifteen nations comprising the euro currency area, online spending will account for almost 10% of all adspend this year, up from 8.3% in 2007.
By 2009 its share is expected to have further increased to 11.4%.
Looking ahead to 2009, adspend in the Eurozone is expected to show similar growth to 2008, with an expected increase of 3.8%. Meanwhile, adspend growth in the US will slip back to 3.1%, but the UK ad market will improve to record a 3.8% increase.
Note: Figures are at current prices. 2007 data are estimates. Source: European Advertising and Media Forecast, WARC.
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The report covers nineteen European countries, along with the US, Canada and Japan. It contains advertising forecasts for 2008 and 2009. All data is harmonised to ensure that inter-country comparisons are valid.
The report covers adspend in newspapers, magazines, television, radio, outdoor, cinema and the internet.
For the first time, directories have been removed from this main media group, in order to bring the forecast in line with other reports on the ad market. However, figures for directories, as well as direct mail (where available), are still given separately for each country.
For further information on the European Advertising and Media Forecast click here.
Data sourced from WARC.com; additional content by WARC staff