Ad spending jumps

Ad spending to surpass US$3 billion

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By  Elizabeth Drachman Published  November 23, 2004

Advertisement spending in Saudi Arabia and other GCC countries spiked during the first nine months of 2004 and it set to surpass the $3 billion mark by the end of the year. “GCC spending on advertisement has been growing continuously as it reached US$2.8 billion in 2003 from US$607 million in 1993 and we hope the figure will cross US$3 billion mark by the end of this year,” Khamis Al-Muqla of the International Advertising Association, told the local press. Advertisement sales during the first nine months have hit US$2.7 billion versus $1.86 billion during the same period last year. Arab satellite channels captured the majority of advertisements this year as their ad revenues went up by 55% from US$870 million to US$1.35 billion this year. In Saudi Arabia, ad spending rose from US$342 million to US$473, reflecting a growth rate of 38%. Bahrain posted the highest growth rate, 42.76%, in ad spending in the GCC, followed by Qatar with 42.16% and the UAE 40%. Kuwait was fifth with 26% after Saudi Arabia while Oman was last with 22% increase. The amount of spending in the UAE was estimated at US$428 million and in Kuwait US$268 million.

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