Sir Martin Sorrell: Ad Industry Should Look At Asia To Survive

Advertising companies in the west should be looking at Asian and Latin American markets to survive the current economic crisis, according to Sir Martin Sorrell.

The WPP chief executive says China and India are continuing to grow, while companies in the west are struggling, especially in the US and western Europe.

Writing a blog on MediaGuardian.co.uk, Sorrell explains that a number of markets will be affected by the economic situation, including Russia, South Korea and Brazil.

However, he estimates that China and India are still growing at around 10% and says even if they “collapse to 5% or 6%, or 7% or 8% growth, they will still be growing stronger and faster than we are”.

“The shift in the balance of economic power to the east is only heightened by what is going on now. Activity in the west – the US and western Europe – is tightening and will tighten further next year.”

Sorrell concludes: “It does seem as though the faster growing economies will continue to be faster growing – particularly when compared with the west.”

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