Sunday, 23 March 2008

Thai advertising business to grow 7-8% in 2008

BANGKOK, March 22 (TNA) - Thailand's advertising business, languishing during the past two years due to the country's ongoing political uncertainty, is expected to enjoy growth of around 7-8 per cent in 2008, a senior official in the industry said.

Witawat Jayapani, president of the Advertising Association of Thailand, said that the confidence of manufacturers had improved since the country now has an elected government.

Goods producers are now able to lay out business plans several months in advance while they could only map out short-term plans when the country encountered political problems, Mr. Witawat said.

Advertising business growth during the first quarter this year retreated some 7 per cent as the new government was being formed but it is hoped that the business would rebound during the current summer and during the Songkran festival, Thailand's traditional New Year which falls in mid-April, and would become bullish later this year, he said.

It is projected that advertising business would grow between 7-8 per cent with earnings estimated at Bt92 billion this year, surpassing growth of between 3-4 per cent in 2007, he said. Normally, advertising business usually grows not less than 10 per cent annually but it fell in the past two years.

Skin care product advertisements topped the advertising users chart during the first quarter of 2008 followed by cell phone and automobile advertisements, he said. (TNA)-E111