INTERMARKETS

Erwin Guerrovich

Erwin Guerrovich

All around the industry, the climate was towards glorious optimism as 1993 started. Forecasts were constantly referring to a minimum growth of 35% of the Lebanese advertising volume, within a context of further internal peace consolidation and economic growth.
It did not happen. In fact, our statistical unit estimates actual advertising expenditure in 1993 as lower than 1992. We mostly attribute this situation to the continuous impoverishment of the middle class with fixed revenues and to the media war.
On the agency side, as our Lebanon office was embarked in a major restructuration, we had not set our 1993 objectives to the tune of the optimistic outlook of the general industry. Our targeted growth for Lei anon of 10% over 1992 was reached. Overall, having met both our targets and internal planning, we are satisfied with 1993.
- With the situation in Lebanon, as it is, our office here did not have the same level of equipment and professional sophistication as in our other offices throughout the area. Our accomplishments included new management transferred from the Gulf, bringing along the expertise and disciplines now required in Lebanon, the staffing and installation of equipment in computer creativity as well as media, and the return to our enlarged offices in the Chalouhi Centre spanning 1,000 sq.m. on 3 floors.
1993 has also been for us the return of our head office to Beirut and especially, the resumption of our Lebanon office as a regional co-ordinating centre. In 1993 two of our international accounts were co-ordinated successfully out of Beirut and it is likely that this will be increased in 1994.
As a regional network, it is also worth mentioning the start in 1993 of the Saudia Airlines campaign on a world-wide basis.
Originally published in ArabAd, January, 1994

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