Irish advertising spend to fall by 14% this year

Advertising in Ireland is set to fall by almost 14% this year and fall even further next year.

This forecast is contained in a new report by accountancy firm Price WaterhouseCoopers.

This decline however will be offset by an increase in consumer spending which will lead to the media industry growing by almost 3% by 2014.

The report says that while traditional advertising methods are worst affected, internet advertising will also be down this year.