ESOMAR’s new industry report shows that global market research revenue continues to rise with figures reaching US $33.5 billion, representing a year-to-year increase of 3.8%. While this creates an overall picture of apparent stability in the global market research business, it should be noted that there were massive gains in some markets while others suffered severely due to economic and political turmoil.
The key highlights from the report shows that:
- Market research revenue increases in 51 countries or sub-regions in 2011, and declines in 32.
- North America continues the journey to recovery begun last year, with revenue totaling US $11.2 billion.
- Latin America, although buoyed by massive gains in Brazil the previous year, relinquishes its position as the fastest growing region, but still reports growth. The North American region and Asia Pacific take over and jointly hold the title this year.
- Europe, still the largest region for global research, reports a net decline of 1.3% after inflation, with the Nordic markets, Latvia and outsourcing hub Bulgaria unable to balance out losses in the economically troubled British and southern European markets. Falls also occur in the Middle East and Africa.
For the more detailed report please visit http://www.esomar.org