Adspend in the Asia-Pacific region is forecast to grow by 5.6 per cent this year, according to Carat and reported by Mumbrella. That number is an upward revision on the 5.2 per cent the media agency predicted for 2014 last September, and growth this year is reckoned to be faster than in 2013, when the region grew by five per cent.
Of the region’s biggest ad markets, China is expected to grow by 8.0 per cent, Japan by 1.7 per cent and Australia, APAC’s third largest market, by 2.1 per cent.
Philippines and Vietnam are the region’s fastest growing markets, reckons Carat; they are predicted to grow by 10.9 per cent and 20.3 per cent, respectively.
India will see growth of 8.7 per cent, according to the media agency.
Nick Waters, CEO of Dentsu Aegis Network APAC, which owns Carat, said: “Asia Pacific now commands 35 per cent of global media spend which is largely down to significant growth in digital, strength in China and Japan, and rapid growth in Southeast Asian markets.”
“Southeast Asia continues to grow at a significant rate with the Philippines and Vietnam leading the way. This provides a great opportunity for agencies to grow as the market strengthens. China remains a major player in driving growth for Asia Pacific, albeit more moderately versus previous years,” he said.
Read the rest of this article at Mumbrella.
Find out more about adspend in the Asia-Pacific region in FIPP’s World Magazine Trends report.