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UK Leads the Pack in Ad Spending | December 20 2002 |
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According to a new report by advertising agency Havas and the London Business School, growth in marketing expenditure in the UK is to exceed that of five major countries, including the US and Germany, during 2003. The UK, which has witnessed a 4.2% increase in advertising spend over 2002, will see this figure grow to 5.3% during the next year. By comparison, the US saw a lesser 2% boost in ad spend during the last 12 months, which will rise to 4.4% in 2003. The German ad industry is likely to witness a reversal in its fortunes over the next twelve months, turning round a 4.5% fall over 2002 to record a growth of 1.3% next year. Japan is the only major economy in the survey in which advertising spend will decline over 2003. A drop in advertising spend of 1.5% next year will follow the 1.4% fall experienced this year. According to the report, for the five countries in the study, spend on media advertising will experience a growth of 3.5% in 2003, following a 2% during 2002. Interactive marketing will see the biggest gains over the coming 12 months with expenditure rising 11.7%. Direct mail will also continue its steady growth, with a 3% increase in spend predicted for 2003. Those questioned as part of the survey attributed this year's overall decline in advertising spend to a number of problems, including the September 11 terrorist attacks, uncertainty on the stock market and slowdowns in tourism and consumer spending. The study was carried out through interviews with 750 companies from five countries, the US, UK, Germany, France and Japan, about their marketing expenditure and strategic decisions over the past year and their predictions for 2003. Simple printable version of this article. Email this article to a friend.
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