FOCUS: ASIAN ADVERTISING INDUSTRY POLL: Industry cautious on 2001 prospects

The industry breathed a huge sigh of relief in 2000; it was better than they had expected and most agencies achieved their revenue target for the year, according to the MEDIA-CNBC Asian Advertising Industry Poll. However, two thirds of respondents stated that they didn't feel the industry had returned to the pre-financial crisis levels of the late 1990s. In addition, more than 60 per cent felt prospects for 2001 would only slightly improve, compared with only 19 per cent who believed the new year would usher in greatly improved operating conditions. Agency heads said the cautiousness stemmed from new global uncertainties, including worries about the state of the US economy and political turmoil in countries like the Philippines, Taiwan and Thailand. Nevertheless, they said that considering the financial crisis only came to an end in late 1999, it was "so far, so good".

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