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Russia: Special Report.(marketing industry booms the economic conditions)(Industry overview)(Brief article)

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| July 07, 2006 | COPYRIGHT 2006 Haymarket Business Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Russia is Europe's answer to China. Its economy is growing faster than that of any other European power, and it is expected to become the continent's leading economy by 2020 (possibly before, if oil prices continue to rise).

The country's 145 million people are spread across the world's largest land mass, stretching from the Baltic Sea to the Siberian Arctic.

While most of Russia is poor, there is a growing middle class, made obvious by the countless Mercedes queueing outside Moscow's latest Ikea.

There are other similarities. Its advertising market is the same age as China's (roughly 15 years old), and its consumers, free from the shackles of Communism, have worked up a thirst for spending their newfound wealth.

But whereas in China there is a sense that its economy and ad market will hurtle on inexorably and indefinitely, in Russia there isn't the same certainty.

...

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