The Olympics have been a boon for China's economy, but advertising executives are pursuing opportunities in another Asian market — India.
The International Herald Tribune reports:
"Most of the big Western agency groups, led by WPP, have been operating in India for years. But ... at least four so-called hot shops - boutique firms with only a handful of offices, compared with dozens or hundreds for the big agency networks - have recently opened, or announced plans to open, offices in India."
This is just after a study last week showed that China's Olympic advertising will boost the world's third-largest advertising market by
22 percent — to $35 billion — this year. But the Indian media market is expected to grow exponentially over the next few years without the aid of the international sports stage, a prospect which has caught the attention of more than a few large conglomerates. Last month, News
Corp announced plans to invest over $100 million into launching six new television channels in India in the next year.
Rupert Murdoch said of the move:
This is in contrast to Murdoch's cautiously optimistic approach to advertising prospects in America. But with Sony and Walt Disney already trying to get into the world's second-fastest-growing major economy —
and many others looking to follow suit — outsourcing may not be looking like such a bad option.
Photo: Flickr/Meanest Indian
