David Blecken
Sep 9, 2008

Sorrell predicts strong Asia over next 12 months

ASIA-PACIFIC - Asia is set to continue to grow significantly in the coming year despite a more pronounced global slowdown.

Sorrell predicts strong Asia over next 12 months
So says Sir Martin Sorrell (pictured) in an interview with Media in which the WPP chief executive conceded that the Chinese economy would inevitably be affected by the inauguration of a new US president who would have the challenge of dealing with trade and budget deficits, as well as a strengthened dollar against the pound and inflation.

But he noted that although things "will be tough for the next 12 months", Asia would not be as badly affected as the West.

"Even if growth slows in China or India, it’ll still be seven to nine per cent," he said. "We would give our eye teeth for that in Western Europe in the face of the subprime crisis, the insurance and online crisis, and the associated impact on banks, financial institutions and the real world."

Looking ahead to 2010, he said he foresaw a bullish year globally, taking note of Asia the Asian Games in Guangzhou, the World Expo in Shanghai, the Vancouver Winter Olympics, the World Cup in South Africa and the US mid-term congressional election.

Sorrell predicted that the coming year would see the accelerated development of new media companies, particularly in fast-growing markets such as Asia. But he noted that while the mobile medium would continue to increase in penetration and importance, "we will not see mobile advertising grow as fast as we would like."

Citing Omnicom and Google as the most prominent threat to WPP, Sorrell added that the network would place emphasis on geographic and technological growth.

Sorrell’s comments will be carried in full in the October 2 issue of Media.

Tags

Related Articles

Just Published

12 hours ago

Unflinching sexual-violence campaign conveys harsh ...

One in seven Hong Kong women has been the victim of sexual violence, says a hard-hitting campaign for local organisation Rainlily by Dentsu International agencies.

12 hours ago

Campaign Crash Course: How to create an effective ...

While most agencies have historically focused on the massive opportunity to provide marketing services for consumer-facing clients, there has been a recent surge in interest in the B2B arena. Here are important pointers on cracking B2B marketing.

13 hours ago

Which UN Sustainable Development Goals matter most ...

TOP OF THE CHARTS: Finding decent work, economic growth, reducing inequality and climate action all rank highly. See which UN SDGs are of highest concern in Australia, China, Hong Kong and Singapore.

14 hours ago

The Malaysian artist who ‘paints without a brush’

INSPIRATION STATION: Red Hong Yi has been making waves with stunning, thoughtful pieces using everyday objects.