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Global Ad Summit held in Singapore
28/06/2012
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On 12 June in Singapore, the World Federation of Advertisers hosted the Global Advertising Summit for the very first time in Asia. By invitation only, the summit brought together international industry leaders from the broader marketing community- advertisers, agencies and the media - in order to evaluate regulatory risks and threats to their businesses, examine cutting-edge self-regulatory solutions and help develop coordinated industry strategies designed to respond to these challenges in Asia-Pacific.
The choice of Singapore as location reflects the growing importance of Asia-Pacific in terms of growth for so many international brands. The Asian middle classes are exploding. Estimates suggest an increase of 300 million families between now and 2020. China alone will add over 180 million households to the middle class by 2025, by which time the Indian middle class is set to number 580 million people, or half the population. No other global demographic represents such opportunities for growth. But regulators across Asia are already busy proposing ad restrictions; restrictions that could seriously strangle how brands connect with these increasingly wealthy and aspirational consumers.
Discussions focused on three areas of prime importance to the broader marketing community across the region; food and non-alcoholic beverage marketing, alcohol marketing and best practice in building credible, effective self-regulatory systems for advertising standards. One of the agreed deliverables was for WFA to establish a regional task-force which would focus on implementing and strengthening self-regulatory advertising standards across key markets on the basis of agreed international best practice.
To discover more about the event, please contact Malte Lohan at [email protected]. Photos from the event can be found here.
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The choice of Singapore as location reflects the growing importance of Asia-Pacific in terms of growth for so many international brands. The Asian middle classes are exploding. Estimates suggest an increase of 300 million families between now and 2020. China alone will add over 180 million households to the middle class by 2025, by which time the Indian middle class is set to number 580 million people, or half the population. No other global demographic represents such opportunities for growth. But regulators across Asia are already busy proposing ad restrictions; restrictions that could seriously strangle how brands connect with these increasingly wealthy and aspirational consumers.
Discussions focused on three areas of prime importance to the broader marketing community across the region; food and non-alcoholic beverage marketing, alcohol marketing and best practice in building credible, effective self-regulatory systems for advertising standards. One of the agreed deliverables was for WFA to establish a regional task-force which would focus on implementing and strengthening self-regulatory advertising standards across key markets on the basis of agreed international best practice.
To discover more about the event, please contact Malte Lohan at [email protected]. Photos from the event can be found here.
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