Irish Advertising Market Finally Enters Recovery Mode
The latest Ireland Quarterly Advertising Monitor has some encouraging findings for the Industry with total advertising expenditure rising by +5% in 2014 compared to the previous year. In the fourth quarter alone advertising expenditure was +10% higher than the same period in 2013. This turnaround has been influenced by the fact that higher levels of business confidence are now starting to translate into increased advertising spend.
The Irish advertising market experienced a sharp contraction after 2008, in line with the overall economy and while expenditure is still 10% below what it was, the latest indicators are positive and the market is now clearly in recovery mode.
The report is compiled by leading economist Jim Power together with the Advertising Association of Ireland in partnership with Nielsen and measures advertising expenditure trends against GDP and business confidence.