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India to emerge as the top alternative to China for global advertisers, says Sir Martin Sorrell
He said that by 2050, 3 of the world's largest economies, China, India, and Indonesia will be in the top five.
Sorrell’s message is clear: trade wars don’t happen in isolation. They infiltrate the economic bloodstream and affect every organ of the global body—including advertising.
India is one of the most coveted markets for the global advertisers and marketeers. This has been emphasized by experts worldwide that India is on a path to massive growth economically and socially. Highlighting this aspect, Sir Martin Sorrell, S4 Capital Chairman addressed the audience at Amazon MX Player's Streamnext event and said that India will be one of world’s top economies in the coming time.
He spoke about Middle East, that “despite the political turn up turmoil, huge opportunities. We're doing a lot of work both in Saudi and the UAE, and we see significant opportunities for growth and development. And then, of course, Asia.”
He stressed the fact that Asia was the next big thing for business, and that geography played an important part in the industry of advertising and marketing. He said, “By 2050, 3 of the world's largest economies, China, India, and Indonesia will be in the top five. The other 2 will be Germany, and probably Japan. So those will be the way that it sorts out and Asia will be pretty important. One caveat about Asia, if you're big as a client in China, defined as 15 to 20% or more of yourselves in China, do you really want to be bigger given the Taiwan and security risk?”
Addressing the issues with China, he said that that's where India comes into play because India is the alternative. “So China, India, Indonesia, Vietnam, Thailand, the Philippines, Singapore and Malaysia, all offer huge opportunities for our clients in terms of growth. And then Europe is very troubled at the moment. I come from the UK. The UK has a huge economic pressure along with France and Germany.” Sir Martin Sorrell explained.
SPOTLIGHT
The leaders highlighted how AI is emerging as a critical enabler in this shift from marketing’s traditional focus on new customers to a more sustainable model of driving growth from existing accounts.
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