Staff correspondent

The advertising market in Bangladesh is relatively small compared to those of other Asian countries, but is catching up fast, said a top executive of Ogilvy & Mather on Monday.

‘The Bangladesh market is a tiger cub in comparison to China, India and Indonesia. But it will become big,’ said P Miles Young, chairman of the Asia Pacific region of the United States-based company that opened its office in Dhaka to position itself strongly in the country.

The company earlier ran its operation in the country through Interspeed, a local advertisement agency that was affiliated with it. The country’s advertising market has been growing at a double digit rate over the years, especially due to the mobile phone operators, banks and real estates who advertise frequently.

There around 500 advertisement companies operating in the country, but the top 15 companies control 65 per cent of the Tk 1,000 crore advertisement market.

Miles, who has been working for Ogilvy & Mather since 1983, said Bangladesh and Pakistan were the next potential countries in the region for growth of the adverting industry.

‘The advertising market in Bangladesh and Pakistan will grow, maybe not be in the next few years or so, but it will definitely become bigger in the coming years,’ he said.

Regarding the company’s strategy in Bangladesh, Miles said Ogilvy & Mather would try to get more local companies as clients as most of its customers are multinational companies.

‘My view is that a company should not just depend on multinational clients in a market; the client ratio of local and multinational companies should be at least 50:50,’ he said.

Regarding the human resources in Bangladesh, Miles said there was no dearth of talent in Bangladesh. ‘But what they need is professional training to hone their skills,’ he said.

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