Middle East ad spending hits $13.7b

According to a report by Pan Arab Research Centre, the advertising industry in the Middle East recovered in 2010 from a slump in 2009, as ad expenses jumped 24% to $13.7bn. Egypt emerged as the leading advertising market in 2010 with $1.49bn, up from $1.2bn in 2009, while the UAE witnessed a 3% decline, a much improved result than in 2009 when revenue tumbled 27%, the report said. Saudi Arabia expenditure saw a 6% gain in 2010 from a 4% fall in 2009. Elsewhere, Kuwait recorded an 11% rise, Lebanon climbed 16%, Qatar posted a 16% increase, Oman gained 17%, Jordan picked up 1%, and Bahrain soared 37%.