WEB BRIEFINGS: Internet adspend to boom, forecasts IDC

<p>Taking the 'Net boom very seriously indeed is International Data </p><p>Corporation Asia/Pacific (IDC), which has identified that online adspend </p><p>in Asia-Pacific will reach an astronomical US$1 billion by </p><p>2004. </p><p><BR><BR> </p><p>According to IDC's Asia-Pacific Internet analyst, Matthew McGarvey, </p><p>companies were still taking a "wait-and-see" approach to </p><p>advertising. </p><p><BR><BR> </p><p>Soberingly, the report - entitled Online Advertising Asia-Pacific - </p><p>found that during '99 online advertising in the region accounted for 0.5 </p><p>per cent of total regional adspend. </p><p><BR><BR> </p><p>However IDC also forecast online adspend growth by a compound annual </p><p>rate of 76 per cent, from 1999's US$67 million. </p><p><BR><BR> </p><p>Mr McGarvey said much of the growth would occur between 2002 and 2004, </p><p>the latter being a year in which the industry is set to generate </p><p>advertising revenues pushing the US$1.15 billion mark. </p><p><BR><BR> </p>