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WPP predicts China's ad market will grow to be world's NO. 2
LONDON, Aug. 27 (Xinhua) -- China will overtake all advertising markets save the American one within three years, said Martin Sorrell, chief executive of WPP, the world's second-biggest advertising group. Sorrell told Times Saturday that China's advertising industry is propelled by the rapid economic growth and the Beijing Olympic in 2008.
He said the rise of the Chinese market reflects the "two-paced" nature of the advertising industry, with slower growth in mature markets and rapid expansion in the Far East, Central Europe and Latin America.
At present, the world's most populous nation is ranked the sixth, after the US, Japan, Britain, Germany and France. "We are witnessing slower growth in the mature markets of the United States and Western Europe, and more rapid growth in emerging economic markets," he said.
In the coming weeks, WPP would announce acquisitions in China, where the group has a 15 percent market share, and in India, he disclosed, adding that the markets in the two countries are of strategic importance.
