KUWAIT
As we reflect on the year gone by, one could call 2017 an extension of 2016. A continuation if you will. The region is on the cusp of major economic and social transformations; we are bearing witness to changes that are paramount in nature, and which will set the tone for the next seven to 10 years. Various steps and measures were taken in 2017 which led to Kuwait’s economy witnessing a slight uptick. However, advertising budgets continued to be throttled, resulting in another year of decreased ad spending. Having said that, the expenditure in 2017 dropped by just 7% compared to 2016, as opposed to the 19% drop in 2016 versus 2015. This can safely be attributed to increased spending in OOH in 2017, which went up by 38%. On the flipside, the spending on print media dropped by the same factor, 38%. Following the major changes in the radio scene in the late 2015-early 2016 period, the spending on this medium has remained stable with a negligible 1% drop. TV on the other hand witnessed a drop of 32% in 2017. Print media’s share of the pie was reduced to 47% as compared to 61% in 2016, although it still enjoys the biggest chunk, albeit barely. OOH forms 39%, followed by TV with 11% and radio with 4%. The biggest shift in budgets has been from print to OOH. Telecoms, banking and automotive brands are the usual suspects when it comes to the top spenders. It remains to be seen where this new direction takes us, but one thing can be said with a fair degree of certainty: We are in the midst of an era-defining moment in a part of the world that is reinventing itself, and we are in for an exciting ride.