UK advertising expenditure rose by more then £1½ billion in 2000 to exceed £17 billion for the first time, according to the latest figures released by the Advertising Association. The year was the ninth consecutive year of growth for the industry, in which adspend:
• Increased £1,594 million from 1999, an accelerated growth rate of over 10 per cent (over seven per cent in real terms);
• Accounted for its largest ever share of Gross Value Added (formerly GDP) at 2.07 per cent, indicating the industry's increasing importance in the economy;
• Was fastest growing in the internet, outdoor and radio sectors.
Internet advertising expenditure figures have been added for the first time and show total expenditure on web advertising to have tripled in 2000 to £155m. Full details will appear shortly in the Advertising Statistics Yearbook 2001, available from World Advertising Research Center.
News source: World Advertising Research Center