Advertising could generate £100 bn for UK economy: report
01 Feb 2013
Advertising in UK could contribute £100 billion to the economy if firms committed to spend £16 billion according to a joint report prepared by Deloitte and the Advertising Association.
According to the report titled Advertising Pays the industry served as ''economic fuel'' and it must be thought of as oxygen for GDP growth.
The report goes on to add that investment in advertising could support a wide variety of industries, including media, the creative sector and digital businesses, as also having a direct effect on the advertisers themselves.
It further states that UK exports could feel a positive impact while innovation and competition could get a boost from investment.
The report which is based on a cross-country analysis covering 17 markets over 14 years, says figures showed that for every £1 invested in advertising, £6 was generated towards UK GDP.
President of the Advertising Association, Gavin Patterson, said he believed advertising's potential to support growth was often overlooked.
