The outlook ranges from cautiously optimistic to pessimistic as
countries are experiencing widely varying economic conditions. Growth is
predicted for China and the recession appears to have bypassed
Australia. But the Philippines, Hong Kong and Japan have not fared as
well.
Sui-gang Lu, general manager of L&L Advertising/ICOM in Guangzhou,
predicted that real estate, telecommunications and automotive would lead
growth in the next three to five years helped by China's growing economy
and entry into the WTO. Across the border, PMP/ICOM Hong Kong provided a
more downbeat forecast, tipping recovery for the end of the third
quarter or the start of the fourth quarter, with property and retail
picking up.
Ian Craighead, chief executive of Kuala Lumpur-based Select Team/ICOM, said Malaysia's adspend would be affected by the tobacco companies' decision to restrict support for parallel brand advertising and sponsorships. He predicted rising spend by telecom, automotive and possibly the real estate categories this year.
