Minister for culture, communications and the creative industries Ed Vaizey has praised the advertising industry as it is 'world-beating' in terms of creativity, e-commerce and online marketing.
Speaking ahead of the IPA President's New Year reception, he stated that the advertising industry in the UK is highly innovative and adopts new technologies quickly.
He also believes that the Olympics in London will provide opportunities for businesses, including in online advertising.
A recent report by Zenith Optimedia predicted that global events, including the Olympics and the Queen's Diamond Jubilee, will boost online advertising spend by 4.7 per cent in 2012.
Vaizey said: "The creation of enterprise zones - Tech City a massive creative hub, in East London - again which will be a great place for ad agencies both to set up but also do business with emerging new hi-tech businesses," quoted Brand Republic.
"All are massive opportunities for creative industries."
The minister added that he hopes chancellor George Osborne's new budget will further boost business in the UK.
