According to the Pan Arab Research Center (PARC), ad spend in the UAE, the largest domestic advertising market in the Arab world, has dropped by 14% during the first quarter of 2009 compared to the same period last year.
Real Estate advertising dropped by 60%, while expenditure on financial services advertising fell by 46% during Q1 of this year. According to The National newspaper, property advertisers disappeared from the list of the top 12 newspaper advertising spenders, after occupying at least half of it last year.
The explains the tornado that shacked several publishing houses in Dubai, but what about Outdoor? Real Estate catered large proportion of outdoor advertising in the UAE, I’m pretty sure they were hit really bad.
English newspapers witnessed a 23% drop in advertising spends, while ad spends on Arabic newspapers went down by 26%, and 4% in magazines.
Both Egypt and Bahrain witnessed a drop in ad spends by 10% and 9% respectively, while Lebanon and Qatar enjoyed a growth of 42%, the pan-Arab advertising spending also grew-up by 28%.
Real Estate advertising dropped by 60%!!
welcome to the credit crunch. harldy surprising.
dubai’s real estate bubble has crashed. property / real estate ads now require permission from rera or whatever they call it there.
i guess the credit crunch had its effects on the whole world not only dubai …
just wondering y u guys keep picking on dubai ?
who is picking on dubai? the article is mainly about dubai hence my reply. they seem to be suffering more than others for various reasons.