AANA heralds euro advertising figures as good sign for local industry
Research from the World Federation of Advertisers highlighting the economic value of advertising to economies in the region has been welcomed by the Australian Association of National Advertisers.
AANA CEO Sunita Gloster welcomed report from Europe showing economic impact of advertising.
The survey by the WFA, which captured input from a range of advertising and media bodies, found advertising contributed €640b to the gross domestic product of European Union economies in 2014.
AANA CEO Sunita Gloster admitted that while the structure of different economies meant that the impact of advertising was not equal in different countries, the overriding message was a positive one for all markets.
“This latest study again points to the vital role advertising plays in driving local economies,” Gloster said.
“In every case, advertising makes a hugely significant contribution to GDP and stimulates innovation in products and services.”
The AANA CEO pointed to similar research conducted by The Communications Council in Australia in 2014 with Deloitte which showed advertising benefits were worth $40b locally.
The WFA report found that 1 Euro in advertising expenditure generated 7 Euros for the economy.
It concluded that more than 5.7m jobs were supported by advertising throughout the EU.
“A majority of these jobs, 74%, come from the supply chain and income effects,” the report said.
“That is, these jobs are supported by advertising due to the additional economic activity it creates through the use of inputs in certain industries leading to additional outputs, salaries being paid, households spending more and creating demand, and all the knock-on impacts associated with this initial advertising spend.”
