|Agencies continue expansion into Asia-Pacific region|
|Tuesday, 23 October 2012 09:47|
WPP has announced that Grey Group will acquire a majority stake in ArtM Communications Group, an integrated communications agency based in China. This deal is one of many in a recent expansion of the Asian communications industry. Firms with existing locations in Dubai or the Middle East have been clamouring for a piece of the massive Asia-Pacific PR market.
eMarketer has reported Asia-Pacific advertising to be worth nearly £125 billion in 2014, only a fraction less than North America’s £195 billion market. With this number set to increase, agencies have sought footholds in China, Singapore, Hong Kong and other places by either founding their own offices or acquiring local firms.
The WPP announcement is along the lines of Foolproof’s announcement that it acquried One to One Global, a Singaporean user experience agency. Other large-scale digital, integrated agencies Interbrand and IML Worldwide have offices dotted across the region. The Grey Group's acquistion will expand its reach to Beijing, Shanghai, Shenzen and Guangzhou.
Despite the intense focus on the Asian market, the international and British communications industry has yet to heavily focus on India, the second-fastest growing market in the Asia-Pacific region, at $1.26 billion.