LONDON: The Olympic Games will provide a crucial boost to the UK advertising sector in 2012, a new report has claimed.
Forecasts from digital research firm eMarketer indicate that adspend in this year's Olympic host nation will rise by +4.8% from 2011, higher than the +3.0% growth rate for the previous year.
EMarketer also cited data from the IPA, which suggested that the nation's advertisers are already raising budgets ahead of the event, with firms more likely to have lifted budgets than cut back during the first quarter.
This positive sentiment comes despite macro-economic headwinds, with the UK economy officially re-entering recession in the first quarter.
For other territories, the report cited recent data from Strategy Analytics, which suggested that European adspend would grow by +3.7% in 2012, ahead of a +2.7% rise for the US.
By way of comparison, the latest AA/Warc Expenditure Report, released in April 2012, indicated that UK adspend will rise by 3.8% this year.
Karin von Abrams, eMarketer senior analyst, said: "This summer's Olympics are already generating extra interest and investment in UK advertising, as brands ramp up activity focused on the Games and the audiences they will attract."
Data sourced from eMarketer/Warc/BBC; additional content by Warc staff