Madar Research reports that online advertising spend in the GCC-Levant region registered a growth twice the global rate in 2007. Travel/Hospitality and Real Estate sectors emerged as top online advertising spenders in the region during the past year with a combined outlay comprising nearly half (45%) of the total online spend.
As in previous years, the ongoing rapid growth in online advertising spend in the GCC-Levant region still failed to deliver a market share on par, or at least comparable, with the current world statistics. However, this scenario is expected to improve over the long term as the global market reaches maturity, causing a stable, less rapid growth compared to that of the regional market.
Overall global advertising spend grew by 5.2% last year (2007) fueled by developing markets, whose advertising spend growth managed to offset the comparatively slower growth experienced in developed markets like the United States. On the other hand, total ad spending in the GCC-Levant region rose by approximately 19.4% in 2007, with UAE, Egypt, Saudi Arabia, Kuwait, and Qatar registering the most growth.
# Source: MediaME