Public relations is heating up in Asia, and looks primed to play a critical post-recession role throughout the region.
In fact, with social media taking center stage, PR growth in Asia is expected to exceed gains in the U.S. and Europe.
Ogilvy PR Asia-Pacific president and CEO Steven Dahllof projects 10 percent revenue growth each year from 2011-15.
“In 2009 we were flat in operating profit and this year the signs from our clients [indicate] that it will be a year to rebuild. From next year onwards, our revenue should grow more than 10 percent in revenue for the next five years,” he said.
Dahllof added that the most improved markets are China and Australia. Growth is being led by consumer products, technology and the services sector.
Edelman’s Asia-Pacific president Alan VanderMolen (shown above ) projected revenue growth for 2010 of 20 percent. He envisions organic growth of 23 percent in Asian revenue in the next five years.
“By geography, India and Korea are on fire. By sector, tech is hot and so is digital. I haven’t been this excited about the market in a long time,” VanderMolen said.
Added Dahllof: “PR is to play a much more strategic role in brand building and brand articulation. Brands are no longer in the hands of the companies, but with all the stakeholders. PR has the power to influence those stakeholders and will therefore grow its share of the marketing pie.” He said it would take up 5-13 percent of overall spending depending on sector and category.