UK newspaper, the Guardian, reports that ‘This Year Next Year: China’ from WPP's group media buying operation Group M, found that the Games will accelerate growth in the Asian economy to become the world's second largest ad market by 2010.
The report predicts that Chinese ad spend growth will increase by 22 per cent year on year in 2008 to $35 billion, the main sources of which will be provided by television and Internet. Group M estimates that the Olympics will generate $400m in spending on state broadcaster, CCTV.
Group M futures director, Adam Smith, said: "Growth in 2007 was relatively restrained, but we predict many marketers are conserving funds for the anticipated Olympic bonanza this year.”
Despite China's ‘relatively restrained’ growth, the country managed to overtake Europe's two biggest advertising economies - the UK and Germany - last year.
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