Strong growth predicted for global internet ad sector
The worldwide internet advertising sector will see sustained growth this year, a new forecast has claimed.
Spending on the medium will rise by 23 per cent by the end of 2008, meaning that €31.7 billion (£25.4 billion) will be spent on online advertising in total, the European Information Technology Observatory (EITO) said.
In Europe, spending will rise by 31 per cent to reach €9.1 billion, with US expenditure predicted to grow 13 per cent to €13.6 billion, despite being the nation that has been most affected by the global financial crisis, the report showed.
Recent reports from the Internet Advertising Bureau in the UK and the Interactive Advertising Bureau in the US have also confirmed double-digit spending rises in both regions for the first half of this year.
"The internet economy in Europe is developing very dynamically and making great strides towards catching the leader, the USA," remarked Bruno Lamborghini, chairman of EITO.
