According to the report, the downward revision this year, from 19.7 per cent to 18.2 per cent, is due to the impact of the May earthquake, and an expected post-Olympics slowdown. 2009, meanwhile, sees a more significant decline from 13.2 per cent growth to 10.9 per cent growth for the world’s third largest advertising market.
Elsewhere in Asia, Japan’s forecast remains steady at 1.5 per cent growth this year, and 0.5 per cent growth in 2009. Overall, worldwide adspend has been revised downward from six per cent to 4.9 per cent this year.
"In APAC we see both a faster than global growth and a very fast digital development making the region more important for global advertisers,” said Aegis Media Asia-Pacific CEO Patrick Stahle. “With China likely to become the second largest advertising market after the US in 2009, and the Chinese middle class growing at an incredible rate, this is bound to place even more focus on China after the Olympics.”
