Russian PR market expecting declines in 2009

MOSCOW: The PR market in Russia is expected to drop by 28% in 2009 although it enjoyed impressive growth last year - a 43% increase from 2007 to 2008, according to a study from the Russian Communications Consultancies Association (???S).

MOSCOW: The PR market in Russia is expected to drop by 28% in 2009 although it enjoyed impressive growth last year - a 43% increase from 2007 to 2008, according to a study from Russian Communications Consultancies Association (???S).

This year, the market is expected to bring in $1.8 billion, compared to $2.5 billion in 2008 and $1.75 billion in 2007.

Like the US market, the budgets most affected are construction and automotive, with those sectors expected to decrease by 80% this year. The markets for fast-moving consumer goods and state work are likely to drop by 15% to 20% while the pharmaceutical and information technology (IT) sectors will report similar data in 2009 compared to 2008.

The rate and budgets of companies that outsource PR work to firms is also expected to remain relatively stable. It hit $1 billion in 2008, but is predicted to drop to $700 million in 2009.

AKOS is a organization made up of PR firms in Russia. Membership includes Fleishman-Hillard Vanguard, ImageLand Edelman PR, and SPN Ogilvy.

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