Deloitte: Advertising underpins UK economy
January 16, 2017
ISBA, The Voice of British Advertisers, welcomes the findings of the new Deloitte Report, The economic contribution of advertising in Europe.
This study, for the World Federation of Advertisers (WFA), of which ISBA is the UK member, demonstrates the value of Advertising to the European GDP and puts a figure on it. Every advertising Euro spent is multiplied seven fold. The study found that advertising contributed nearly 6 million jobs across the EU and 4.6 per cent of total GDP.
“Advertising matters for employment, innovation, culture and entertainment, and supports media plurality which is fundamental to democratic freedoms. The benefits are pervasive and run through the fabric of society. Europe without advertising would be poorer, less well informed and less competitive.” Deloitte Report 2017
Phil Smith, Director General of ISBA, the voice of British advertisers said: “The findings highlight that a healthy and vibrant advertising industry is vital to our economy. Advertising fuels competition, advertisers sell better products and create more jobs. In turn, advertising partially funds diverse news and entertainment media and pays entirely for many free online services we take for granted, like search and social media. We believe European and national policy makers must assess the full range of implications when considering more restrictive advertising regulation.”