European MR Revenue Falls 1.3% in 2011

European market research revenue fell 1.3% to $14.1 billion in 2011, which according to industry association ESOMAR, was driven by the prevalence of austerity budgets across a number of economies in the region.

However, the results of ESOMAR's 24th annual Global Market Research report showed that overall global MR turnover rose 3.8% to $33.5 billion last year.

In contrast to Europe, the North American market continued its journey of recovery, recording 4.9% growth to $11.1 billion, while revenue across Latin America rose 7.9% to $1.8 billion, and in the Asia Pacific region, turnover was $5.7 billion.

The report cites Indonesia, Argentina and Southern Africa as markets to watch out for, while there are a number of other markets showing gains, such as Peru, Nicaragua, and Latvia.

Finn Raben (pictured), ESOMAR Director General, comments: 'We are delighted to see positive growth maintained in our industry in 2011, albeit some markets still struggle to attain an economic equilibrium - most notably within the southern Eurozone. However, emerging markets continue to show their importance, and it is also promising to see that a couple of new markets are beginning to emerge as growth drivers in certain regions.'

This year's report also includes a section on where the next phase of funding is likely to be invested, based on the views of some of the key change leaders in the industry.

The full report will be published next week.

Web site: www.esomar.org .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.