Bank Austria Macroeconomics Sector Report:
New elections and EURO ensure 2008 is satisfactory advertising
year
11.08.2008
- Exceptional stimuli balance out weak economic growth and allow
advertising industry to increase turnover by 5 to 7 percent
- Competitive pressure curbs profit trend
- No noticeable cool-down in advertising economy before 2009;
growth falls below 4 percent
The impending National Council (Nationalrat) election and recent
European Football Championships are expected to bestow a
favourable 2008 on the Austrian advertising industry. These
exceptional stimuli ought, in fact, to be strong enough to
balance out weaker economic growth and allow the sector to
record an increase in turnover of 5 to 7 percent. That is one
conclusion from Bank Austria's Macroeconomics Department's
latest sector report. Recently advertising and marketing
communications achieved turnover of 4.2 billion euros and
employed around 20,000.
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