Economic blues chief concern of ICOM members

ASIA-PACIFIC: A range of concerns from shaken consumer confidence to spending cutbacks have been reported by members of the International Communications Agency Network, which polled its agencies after the September 11 attacks in the US. With ICOM agencies representing a microcosm of mid-sized independent agencies around the world, the poll reflected strong concerns that the terrorist attacks would delay the global economic recovery, with travel and financial clients showing the most jitters. "Business in general has been affected by the weak global economy, which is now worsened by the terrorist attacks," said Anthony Kang, principal of AdGrand/ICOM Singapore. Shoishi Hoshi, international advisor of Tokyo-based Nihon Keizai Advertising, had seen almost no change since the terrorist attacks. "But I am concerned that the psychological effect of the terrorist attack on consumer confidence will worsen the economic recession Japan has been suffering from the past decade." Guillermo Garcia, Manila-based chairman of Adformatix Inc/ICOM, noted: "A major US company wants a bigger bottomline figure this year - as a result, a cutback in ad budget for the remainder of the year."

Sign In

Trouble signing in?

Reset Password: Click here

Contact Customer Support at

Customerservice@campaignasia.com