Myanmar Amongst Fastest-Growing Ad Markets

Bangladesh and Myanmar are projected to be amongst the world’s fastest-growing in terms of ad spend over the next three years, according to Zenith’s Thirty Rising Media Markets report.

In fact, Bangladesh would clock the second-largest growth rate in ad spend, expanding by USD$457m (£329.66m) between 2017 and 2020, when it could generate USD$1.31bn (£944.99m). By 2020, the country’s ad market could be more than double that of Pakistan’s, even though Bangladesh would have just 80% of the latter’s population.

Over the next three years, Iran could see the biggest growth in ad spend to reach almost USD$2.12bn (£1.53bn) in 2020. The country’s ad market expansion would be fuelled by its economic growth and reintegration into the global economy, noted Zenith’s report, which assessed 81 ad markets.

It estimated that ad spending across the 30 markets totalled USD$9.7bn (£7bn) last year, up 12.7% from 2016, compared to the global average growth rate of 4%. These 30 markets were expected to expand at an average of 12.4%, three times faster than the global average of 4.1%, before churning a total of USD$13.8bn (£9.95bn) in ad spending by 2020.

Iran and Bangladesh would account for 29% of this growth, the report said. It added that Angola would see an average annual growth rate of 19%, while countries such as Myanmar and Ethiopia would clock 18% growth.

“These thirty rising ad markets may be small now, but they are rapidly becoming richer with fast-growing demand for consumer goods”, said Vittorio Bonori, Zenith’s global brand president. “They have great potential for brand growth for early entrants, which have the opportunity to establish their brands with relatively little competition.”

The group of 30 also included markets such as Sri Lanka, Mongolia, Dominican Republic, and Tunisia.

Source: Exchangewire

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