Advertising Pays – affirms Irish study

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26/11/2013
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The Irish Advertiser Association (AAI) has supported a new piece of research published by Deloitte Ireland that demonstrates the contribution of advertising towards the economy in Ireland. The report was released in early November, entitled “Advertising: An engine for economic growth“.

The report highlights that every €1 spend on advertising generates on average €5.7 for the Irish economy. Advertising makes up almost 38% of all revenues of Irish media organisations.

According to the report, almost 1 billion euros were invested in advertising and marketing communications in Ireland last year and advertising contributed at least €5.3bn to Irish GNP. The reports finds that advertising supports 30,000 jobs - 7,000 of which are direct employees in the field of advertising, and 7,500 which are supported by advertising revenue. The other 15,500 jobs are across supply chains of creative industry and the wider economy.

The report also finds that advertising stimulates competition by supporting innovation. It provides the example that over 400,000 households in Ireland have broadband thanks to campaigns and faster speed by operators.

“(The report%u2026) has a critical role in underpinning the media sector in Ireland, ” Minister for Communications Pat Rabbitte said as he launched the report. “Up to now little has been known about advertising's role as a stimulant for economic growth through its capacity to drive demand, spread innovation and foster competition,” Alan Cox chief executive of Core media said. The report was prepared by Deloitte and sponsored by Core Media, Google, IN&M and RTÉ.

For more information, please contact Barry Dooley at the AAI.


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