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SARS to put brakes on Asian ad investments.(severe acute respiratory syndrome)(Brief Article)
Severe Acute Respiratory Syndrome is likely to put the brakes on Asian investment in adspend, which has been growing steadily since 1998, with the exception of Japan.
The WPP Group chief executive, Sir Martin Sorrell, has also indicated the virus could hinder recovery from the global advertising recession.
Spending on advertising in Hong Kong, the worst-affected market, has fallen by approximately 30 per cent, according to estimates from MindShare. The worst-hit sectors are travel and tourism, retail and entertainment.
Mark Patterson, the chief executive of MindShare in North Asia, believes the travel industry will take the longest to recover. 'Sars is intrinsically linked with travel, and figures for the first two weeks in April this year compared with last year show that spend is down by about 70 per cent to about just over pounds 1 million,' he said.
The release of the film X-Men 2, to coincide with the May Day holiday, has also taken a major hit, Patterson says.
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