A new report on the advertising industry reveals that it contributes €5.3 billion to the Irish economy.

The industry supports 30,000 jobs, including 7,000 employed directly in advertising activities last year.

The "Advertising: an engine for economic growth" report, which was carried out by Deloitte,  was sponsored by Core Media, Google, Independent News and Media and RTÉ. 

It also said that €1 spent on advertising generates about €5.7 to Irish GNP and that the industry provides 38% of all Irish media revenues.

The report highlighted several ad campaigns which had helped safety awareness, boosted broadband penetration, support exports and stimulated social change.

Commenting on the report, Alan Cox, chief executive of Core Media said that up to now, little has been known about advertising’s role as a stimulant for economic growth through its capacity to drive demand, spread innovation and foster competition.

"This report on advertising’s impact on the Irish economy provides a valuable contribution to understanding the industry’s role in the economy," he added.