The Interactive Advertising Bureau Europe (IAB) is holding the most important annual Interact Congress here in Brussels. This is an all important event that brings all the main agonists of the European digital business together in a common place.

IAB has worked in conjunction with PriceWaterhouseCoopers on account of this event and released the annual advertising expenditure survey of the financial year 2008. It was indeed a detailed report and the gist of it reads as follows.

According to the report, the advertising industries in Europe have had a really tough time last year and this has been attributed to the economic recession. The report also predicted the future of these industries is worse for the year 2009.

In the year 2008, the total online advertising companies in Europe as analyzed by IAB and PWC was worth around 18$ million and showed a like-for-like growth rate was 20% as compared to 2007.

The same analysis showed a worth of 24$ million for the advertising market in United States. Though this analysis shows a 20% growth but there was no considerable growth in reality. This was due to the economic recession and huge strain it has put on the advertising world worldwide.

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