Olympics Fuels Research Boom

The market research industry is set for an Olympic sized boost. The Beijing Games in 2008 will help fuel an 8% increase in revenue across the global research industry according to a new study by Esomar.

This compares to the 5% growth enjoyed by the industry during 2006.

Market research was worth £1.35bn in 2006, according to a media and marketing forecast by WPP-owned media buying group GroupM published in November 2006.

UK providers were seeking greater foothold in the high growth markets of Latin America, Eastern Europe and parts of Asia.

On the flip side, the report highlighted the pressure on margins, as online research with its cost advantages was becoming ever more popular.

Veronique Jeannin, Esomar’s director general, said: “Our initial findings indicate that there is healthy growth in the number of projects commissioned in North America and Western Europe, which is not leading to corresponding increases in sales revenue, mainly due to ongoing adoption of lower priced online research.”