GCC spending on adverts up 17pc in Q1
Manama, May 13, 2010
Total advertising expenditure in the GCC rose to $2.22 billion during the first quarter of the year, representing an increase of 17 per cent over the same period last year.
According to an industry expert, the positive results reflect a significant return of confidence among advertisers in the region as the impact of the global financial recession stabilises.
Speaking at the International Advertising Association's (IAA) 42nd World Congress convened in Moscow, Gulf Marcom Group chairman and Bahrain chapter of the IAA president Khamis Al Muqla said Pan-Arab region media's share in advertising expenditure during this time rose to $1.17 billion, compared to $890 million.
Despite a 5 per cent decline, the UAE market still topped the GCC's advertising spend at $337 million.
Saudi Arabia, on the other hand, witnessed a 4 per cent increase to $257 million, topping the GCC markets by volume. Kuwait, Qatar, Oman and Bahrain followed.
Other Arab markets recorded impressive growth, led by Egypt (45 per cent), Lebanon (24 per cent) and Jordan (19 per cent) with a total spend of $478 million, an overall increase of 38 per cent. – TradeArabia News Service