NEWS16 January 2017
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NEWS16 January 2017
EUROPE – The economic impact of Europe’s advertising industry has been analysed in a new report from Deloitte showing that for every Euro or Pound spent on advertising, a seven-fold return is achieved in terms of GDP.
The Value of Advertising report was funded by the World Federation of Advertisers and a range of industry partners, and shows that advertising benefits the economy, jobs and society.
Using econometric modelling, the study found that advertising contributed nearly six million jobs across the EU and 4.6% of total GDP.
It identified three key areas where advertising provided direct or indirect benefits to European economies and citizens:
Stephan Loerke, CEO of the World Federation of Advertisers, said: “Advertising is a vital economic engine that encourages competition, drives innovation in business and provides significant benefits to society by funding or part funding media services, from news to entertainment. Policy-makers should be mindful that ad restrictions have important economic, social, and cultural consequences.”
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