For the first 8 months of 2009, advertising investment increased 18.3% when compared to 2008.
According to data from Ibope Time Panama, $248 million were invested in this period, $38 million more than 2008.
Publicist Mario Barletta told Pa-digital.com.pa: "Even though we expected a drop in advertising for 2009, due to the financial crisis, the results have been pretty positive".
In the first quarter of the year, $82.7 million were invested in advertising, 22.3% more than for the same period in 2008.
Monica Urrutia, president of the Panamanian Association of Advertising Agencies (APAP), attributed this growth to the effects of the electoral campaign and increased investment from telecommunications companies.
Marianela Palacios wrote in her article in Prensa.com: "It was not just the political institutional segments and telecommunications that had increases in the first three months of the year. There were also positive variations in civic campaigns, commercial cleaning products, furniture and entertainment, among others."
In January 2009, nearly $23 million were invested, an increase of more than $3 million compared to January 2008.
Data from the General Accounting Office published in an article in prensa.com indicated that advertising investment reached $22.99 million in January 2009, an increase of 17% against the $19.652 million that was invested during the same period in 2008.