Advertising spending in China is rising steadily as the nation has effectively shrugged off the global economic crisis.
Boasting the world’s most vibrant economy and the second-largest consumer market overall, advertising spending in China is expected to grow 14.6 percent to $33.64 billion this year, according to a new report from eMarketer.
Much of this growth is the result of China’s rapidly expanding online consumer market. eMarketer estimates that by the end of 2010, China will have 518 million Internet users and 116.7 million broadband households.
As a result, advertisers are expected to spend $3.7 billion on Internet ads this year, up 37 percent from $2.7 billion in 2009. By 2014, online advertising spending in China is expected to reach $9.5 billion.
“Traditionally, advertising in China required tailored, culturally specific campaigns that had to be placed with a large number of individual carriers in different regions,” said Michael Froggatt, an analyst at eMarketer. “In contrast, the Internet represents a direct line to a well-connected, young and increasingly affluent consumer segment.”