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".
