Advertising Revenue to Reach $1.5Bln in 15 Years

Vietnam’s advertising value is estimated to increase to VND24 trillion ($1.5 billion) in 15 years from VND5 trillion ($312.5 million) in 2005, said the Vietnam Advertising Association (VAA).

 

The estimation was based on the rapid development of the local advertising market with annual growth of 20-30 per cent in recent years.

 

Currently, the Southeast Asian country reports 3,000 registered advertising businesses with half of them in the southern metropolis of Ho Chi Minh City, the VAA added.

 

Among them, 50 are foreign companies, which hold up to 80 per cent of the market share.

 

Meanwhile, a majority of the local advertising businesses now focus on other services like public relations and event management as they could hardly compete with their foreign rivals in the main field due to their lack of expertise and resources. As result, most of them could only provide services to the foreign agencies, said experts.