UAE leading Internet ad spend growth in region
Dubai - United Arab Emirates: Speaking at The Internet Show in Abu Dhabi, Yahoo! Maktoob's Vice President and Managing Director, Ahmed Nassef stressed on the importance of investing in educating the market and creating greater awareness on the full potential of online advertising in order to accelerate the growth of the digital ad market in MENA. He also highlighted that the industry is likely to benefit from data becoming more widely available, making way for greater transparency as the regional online market matures.
"In the Arab world, the bulk of the advertising spend goes to print and television, with only about 2 percent of advertising dollars being spent online. When you compare that to the online population, which is about one third of the Middle East population, and the speed at which people are set to come online in the coming years, it is clear that narrowing that gap represents massive opportunities for advertisers. We believe that the more we as an industry work together and invest in establishing greater understanding about the tools and the technologies, the more investment will shift online. The UAE is leading this Internet ad spend growth in the region today," said Nassef.
He added, "The regional market is also in a development stage, with online data still not fully standardized or widely shared. This is not much different from where some European markets were only a few years back. Establishing industry standards is key to the growth and success of this medium, and requires a collaborative effort from brands, agencies, media owners, and publishers alike."
Yahoo! Maktoob is the region's leading online destination, attracting more than 50 million users from across MENA. As part of its participation in The Internet Show, Yahoo! Maktoob presented a series of its innovative advertising products that bring the best in digital technology, creativity, and measurement to advertisers in the Middle East, offering brands the ability to connect with consumers through more relevant, measurable and personal online engagement.
"As the Internet continues to evolve as a creative platform for marketers, it is developing into a digital canvas which offers a medium that rivals the impact of broadcast and print advertising. Today, Yahoo! Maktoob is bringing to the market new products and technologies that have never been available before, giving advertisers new opportunities that they can measure and evaluate. We've proven to advertisers in the U.S., Europe and developed markets in Asia how TV and online together are a very powerful tool, and we are now doing the same here," said Nassef.
He added, "The shift to digital is happening. This region is host to the fastest growing ad markets in the world. Year-on-year, the average growth for digital spending is around 25-30%. This growth is driven by the big global brands that have witnessed the success of the digital medium in other markets and are continuing this investment in the region. In MENA, travel, telecoms and FMCGs are the biggest online spenders today. We want to extend these success stories to more brands, and share with them case studies that demonstrate impactful business results."
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About Yahoo! Middle East
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© Press Release 2011
