UK MR and Ad Spend 'to Rise 11.6% in Five Years'

The UK advertising and market research sectors are expected to see spending growth of 11.6% between 2011 and 2016, according to economic forecasting specialist the Centre for Economics and Business Research (Cebr).

In its latest Business-to-Business Insights publication, Cebr says retailers and manufacturers will see modest levels of advertising spend, as discretionary marketing budgets remain under pressure. The forecast for advertising and MR mirrors a general rise of just under 12% for the wider business services sector, forecast to lead economic recovery by growing from £390bn in 2011 to £436bn in 2016.

On the downside, the report says this recovery could be stymied by an economic collapse in the Eurozone, which makes up half of the UK's export market - resulting in a total of £6.5 billion in lost business services turnover and around 70,000 lost jobs.

Cebre CEO Douglas McWilliams comments: 'B2B is one of the UK's most important sectors and our forecasts make it the star performer of the UK economy over the next five years. Because the sector is so diverse, its importance is often not fully recognised. This is probably the most important sector for UK economic growth in the near term and its ambitions should be facilitated.'

Web site: www.cebr.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.