ÿþ<!doctype html public "-//w3c//dtd html 4.01 transitional//en" "http://www.w3.org/tr/html4/loose.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> <title>IBISWorld Newsletter - August 2008</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" /> <style type="text/css"> body { font-family: geneva, tahoma, Arial, Helvetica, sans-serif; font-size: 12px; color: #333333; } p { font-family: geneva, tahoma, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; padding: 2px; margin: 1; } li { font-family: geneva, tahoma, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; padding-right: 5px; margin: 0; } a { font-size: 12px; font-family: Geneva, tahoma, Arial, Helvetica, sans-serif; color: #7d0b06; text-decoration: none; line-height: 14px; letter-spacing: .1pt; } table { padding: 0; margin: 0; } td img { display: block; } .menuitem { font-size: 13px; font-family: Geneva, tahoma, Arial, Helvetica, sans-serif; color: #7d0b06; text-decoration: none; line-height: 14px; letter-spacing: .1pt; } .heading1 { font-size: 14px; font-family: Geneva, tahoma, Arial, Helvetica, sans-serif; color: #7d0b06; text-decoration: none; font-weight: bold; margin: 2px; padding: 2px; } .tabletext { font-family: geneva, tahoma, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; padding: 2px; margin: 1; } .textCenter { font-family: geneva, tahoma, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center; padding: 7px; margin: 0; } .heading2 { font-size: 14px; font-family: Geneva, tahoma, Arial, Helvetica, sans-serif; color: #7d0b06; text-decoration: none; font-weight: bold; margin: 0px; padding: 2px; } .tblToc { padding: 0px; margin: 0px; border-collapse: collapse; } .tdToc { } .WhiteTop { background-color: #ffffff; border-top: #999999 1px solid; } .WhiteBottom { background-color: #ffffff; border-bottom: #999999 1px solid; } .DarkGray { background-color: #999999; width: 1px; margin: 0px; padding: 0px; } .tbcPink { background-color: #CC99FF; padding: 0px; margin: 0px; } .Black { background-color: #000000; width: 1px; margin: 0px; padding: 0px; } .WhiteTopPink { background-color: #DDCDC6; border-top: #000000 1px solid; } .WhiteBottomPink { background-color: #DDCDC6; border-bottom: #000000 1px solid; } .ReportSectionTitle { font-family: geneva, tahoma, Arial, Helvetica, sans-serif; font-size: 13px; color: #444444; margin-bottom: 0; margin-top: 0; font-weight: normal; text-transform: uppercase; } .tbcLightGreen { background-color: #d7e4ce; text-align: right; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; } .tbcDarkGreen { color: #000000; background-color: #abc696; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; } .tbcMidGreen { color: #000000; background-color: #c2d6ad; text-align: center; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; border-left: #666666 1px solid; border-top: #ffffff 1px solid; } .tbcMidGreen-leftalign { color: #000000; background-color: #c2d6ad; text-align: left; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; border-left: #666666 1px solid; border-top: #ffffff 1px solid; } .tbcWhite { color: #000000; background-color: #ffffff; text-align: right; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; border-top: #cccccc 1px solid; } .tbl { border: #666666 1px solid; padding: 0; margin: 0; border-collapse: collapse; } .tbcWhiteLeftAlign { color: #000000; background-color: #ffffff; text-align: left; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; border-top: #cccccc 1px solid; } .tbcWhiteRightAlign { color: #000000; background-color: #ffffff; text-align: right; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; border-top: #cccccc 1px solid; } .tbcLightGreen-NoAlign { background-color: #d7e4ce; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; text-align: center; } .tbcLightGreen { background-color: #d7e4ce; padding-right: 5px; padding-left: 5px; padding-bottom: 2px; padding-top: 2px; margin: 0; text-align: left; } .tbcMain { border: #666666 1px solid; padding: 0; margin: 0; border-collapse: collapse; } .BuildOnYourSelectionTitle { text-decoration: none; font-weight: bold; color: #7d0b06; text-align: left; font-size: 11px; } .InfoNavTop { background-image: url(http://www.ibisworld.com/common/newsletter/images/infonavtopbg.gif); border-top: #d9d9d9 1px solid; } .InfoNavTopGS { background-image: url(http://www.ibisworld.com/common/newsletter/images/infonavtopbg.jpg); border-top: #d9d9d9 1px solid; width: 195px; } .InfoNavBottom { background-image: url(http://www.ibisworld.com/common/newsletter/images/infonavtopbg.gif); background-repeat: repeat; border-bottom: #d9d9d9 1px solid; height: 6px; } .InfoNav { background-image: url(http://www.ibisworld.com/common/newsletter/images/infonavbg.gif); background-repeat: repeat; border-left: #d9d9d9 1px solid; border-right: #d9d9d9 1px solid; padding-left: 5px; padding-right: 5px; vertical-align: top; } .InfoNavGS { background-image: url(http://www.ibisworld.com/common/newsletter/images/infonavbg.jpg); background-repeat: repeat; border-left: #d9d9d9 1px solid; border-right: #d9d9d9 1px solid; padding-left: 0px; padding-right: 0px; vertical-align: top; } .InfoNavSectionEnd { height: 10px; background-image: url(http://www.ibisworld.com/common/newsletter/images/infonavbg.gif); background-repeat: repeat; border-left: #d9d9d9 1px solid; border-right: #d9d9d9 1px solid; border-bottom: #d6d6d6 1px solid; } .InfoNavTitle { font-size: 12px; color: #950a05; margin-bottom: 0px; } .InfoNavTitlePadded { font-size: 12px; color: #950a05; margin-bottom: 00px; margin-top: 0px; } .InfoNavSubTitle { font-weight: bold; font-size: 12px; color: #000000; } .InfoNavNewsletterSubscribeTextBox { margin-right: 0px; margin-top: 0px; width: 152px; } </style> </head> <body> <table class="" border="0" cellpadding="0" cellspacing="0"> <!-- begin main table--> <tr> <td width="170"> <!-- empty tc on left--> </td> <td align="left"> <!-- tc to contain all content and keep in center--> <table cellpadding="0" cellspacing="0" border="0"> <!-- table to create header --> <tr> <td height="" width="180" align="left"> </td> <td align="left"> </td> </tr> <tr> <td valign="top" align="left"> <table cellpadding="0" cellspacing="0" border="0"> <tr> <td valign="top" height="0"> <img src="http://www.ibisworld.com/common/newsletter/images/homepagelogo3.gif" alt="" /> <br /> </td> </tr> </table> </td> <td align="left" width="450" valign="top"> <table cellpadding="0" cellspacing="0" border="0"> <tr> <td width="440" align="left" valign="top"> <p style="font-size: 11px; text-align: right;"> | <a style="font-size: 11px;" href="#aMember">Membership</a> | <a style="font-size: 11px;" href="http://www.ibisworld.com/newsletter/unsubscribe.aspx">Unsubscribe</a> | <a style="font-size: 11px;" href="#aContact">Contact us</a> | </p> </td> </tr> </table> </td> </tr> <tr> <td valign="baseline" colspan="3"> <a href="http://www.ibisworld.com"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/backgroundlarge0808.jpg" alt="" /></a> </td> </tr> <tr> <td colspan="2"> <table cellpadding="0" cellspacing="0" border="0"> <!-- bottom half of banner, date, dyk, ITE--> <tr> <td valign="top" width="364"> <table cellpadding="0" cellspacing="0" border="0"> <tr> <td height="10"> </td> </tr> <tr> <td> <table border="0" style="width: 354px" cellpadding="0" cellspacing="0"> <tr> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/TOCtopleft.gif" alt="" /> </td> <td class="WhiteTop"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/TOCtopright.gif" alt="" /> </td> </tr> </table> <table border="0" style="width: 354px;" cellpadding="0" cellspacing="0"> <tr> <td style="background-color: #999999; width: 1px; margin: 0px; padding: 0px;"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> <td valign="top"> <table border="0" cellpadding="3" cellspacing="0"> <tr> <td rowspan="9"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="183" width="1" /> </td> <td colspan="2"> <p class="heading1"> IN THIS EDITION:</p> </td> </tr> <tr> <td width="30" align="center"> <a href="#aIndustry"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/placeholderarrow.gif" alt="" /></a> </td> <td class="tdToc"> <a class="menuitem" href="#aIndustry">In INDUSTRY: Back to School  Trends in the Education Industry </a> </td> </tr> <tr> <td align="center"> <a href="#aRisk"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/placeholderarrow.gif" alt="" /> </a> </td> <td class="tdToc"> <a class="menuitem" href="#aGlobal">GLOBAL TRENDS: The Graying of America  Global Industry Implications</a> </td> </tr> <tr> <td align="center"> <a href="#aRisk"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/placeholderarrow.gif" alt="" /> </a> </td> <td class="tdToc"> <a class="menuitem" href="#aRisk">Industry Risk: 2008 Olympics  Beijing, here we come!</a> </td> </tr> <tr> <td align="center"> <a href="#aEconomic"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/placeholderarrow.gif" alt="" /> </a> </td> <td> <a class="menuitem" href="#aEconomic">Economics & Demographics</a> </td> </tr> <tr> <td align="center"> <a href="#aNew"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/placeholderarrow.gif" alt="" /> </a> </td> <td> <a class="menuitem" href="#aNew">What's New?</a> </td> </tr> <tr> <td align="center"> <a href="#aUpdated"> <img border="0" src="http://www.ibisworld.com/common/newsletter/images/placeholderarrow.gif" alt="" /> </a> </td> <td> <a class="menuitem" href="#aUpdated">Updated Reports</a> </td> </tr> </table> </td> <td style="background-color: #999999; width: 1px; margin: 0px; padding: 0px;"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> </tr> </table> <table border="0" style="width: 354px" cellpadding="0" cellspacing="0"> <tr> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/TOCbottomleft.gif" alt="" /> </td> <td class="WhiteBottom"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/TOCbottomright.gif" alt="" /> </td> </tr> </table> </td> </tr> </table> </td> <td valign="top"> <table cellpadding="0" cellspacing="0" border="0"> <tr> <td valign="top"> <img src="http://www.ibisworld.com/common/newsletter/images/usdate.gif" alt="" /> </td> </tr> <tr> <td height="10" /> </tr> <tr> <td> <table border="0" style="width: 256px" cellpadding="0" cellspacing="0"> <tr> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/PinkTOCtopleft.gif" alt="" /> </td> <td class="WhiteTop" style="background-color: #DDCDC6;"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/PinkTOCtopright.gif" alt="" /> </td> </tr> </table> <table border="0" style="background-color: #DDCDC6; width: 256px" cellpadding="0" cellspacing="0"> <tr> <td class="DarkGray"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="148" width="1" /> </td> <td width="308"> <p class="heading1" style="text-align: center;"> DID YOU KNOW?</p> <p class="textCenter"> From 1965 to 2005 the Baby Boomers (aka. The Idealist Generation) have been in ascendancy. They made radical changes that resulted in a fairer, more welfare-orientated society. </p> </td> <td class="DarkGray"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> </tr> </table> <table border="0" style="width: 256px" cellpadding="0" cellspacing="0"> <tr> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/PinkTOCbottomleft.gif" alt="" /> </td> <td class="WhiteBottom" style="background-color: #DDCDC6;"> <img src="http://www.ibisworld.com/common/newsletter/images/cp.gif" alt="" height="1" width="1" /> </td> <td style="width: 5px"> <img src="http://www.ibisworld.com/common/newsletter/images/PinkTOCbottomright.gif" alt="" /> </td> </tr> </table> </td> </tr> </table> </td> </tr> </table> </td> </tr> </table> <!-- end header--> <table cellpadding="0" cellspacing="0" border="0"> <!-- main content--> <!-- industry in focus article --> <tr> <td> <a id="a4" name="aFeature"></a> <table border="0" cellpadding="0" cellspacing="0"> <tr> <td> <a id="a3" name="aFeature"></a> <p class="heading2"> <br /> In INDUSTRY: Back to School  Trends in the Education Industry </p> <table border="0" cellpadding="0" cellspacing="0"> <tr> <td valign="top" width="620" align="left"> <table border="0" cellpadding="0" cellspacing="0"> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> With the summer vacation coming to an end, IBISWorld this month takes a look at some of the trends emerging in the US education sector. This is a time that both <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1527">Junior College</a> and University students alike eagerly anticipate  catching up with friends, making new ones, and slipping back into the routine and activities for the academic year. But the education sector has undergone significant change in the past decade, and some initiatives look set to revolutionize how Americas' students are taught. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> <strong>The Endless School Year</strong> </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> For students in <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1529"> University Colleges</a>, what used to be an endless summer of R&R, has turned into an endless academic year of study and assessments. This May to August has seen an increasing number of institutions offer hundreds of summer courses, taught by the same professors as the regular academic calendar, only faster. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Largely a response for the demands from students for greater flexibility in course scheduling, as well as the opportunity to fit more into their degrees  like double majors, vocational minors, internships and exchange abroad  summer courses are set to become increasingly popular. The University of Michigan's College of Literature, Science and Arts this year offered 418 courses, 50 more than it did in 2001. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> <strong>The Race Begins at Kindergarten </strong> </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> At the other end of the spectrum, competition is intensifying at an alarming pace. Despite layoffs and a downturn in the broader economy, the outlook for <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1941"> Private Schools</a> is bright. IBISWorld expects the industry, which includes private kindergartens, elementary and secondary schools, will grow by 4.8% per year to 2013. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> In the <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1940">Public Schools </a>industry however, the situation is markedly different. Although government spending has reached nearly $10,000 per pupil, the industry has been largely left in the lurch. On a positive note however, with the No Child Left Behind legislation (NCLB) due for review and reauthorization this year, <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1940"> Public Schools </a>should see some changes, particularly on the issues of voucher systems, charter schools, choice options in the industry. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> For more on what's happening in the education sector, check out the links to industry's below: <ul> <li><a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1531">Administrative Certificate Schools </a> Secretaries and admin assistants held about 3.9 million jobs in 2005, making it one of the largest occupations in the US economy;</li> <li><a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1541">Fine Arts Schools </a> Philanthropic budgets devote around 19% of their budgets to the arts. Check out this link to find out what's actually happening in the industry; </li> <li><a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1543">Language Instruction </a> Despite being the smallest industry in the sector, the language instruction industry has been growing modestly over the last five years at 3.8% per annum. </li> </ul> </td> </tr> </table> </td> </tr> </table> </td> </tr> <!--end industry in focus article --> <tr> <td> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td> <p class="heading2"> <a id="global" name="aGlobal"></a> <br /> GLOBAL TRENDS: The Graying of America  Global Industry Implications </p> </td> </tr> <tr> <td valign="top" width="620"> <table border="0" cellpadding="0" cellspacing="0"> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> We may be facing a mass exodus as Baby Boomers leave the workforce and enter retirement, but this does not necessarily spell disaster for our global industries. Especially if you're in tourism, health, or insurance. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Baby Boomers are arguably the wealthiest generation in history, but they face uncertainty about how they will fund their retirement. Sometimes referred to as the 'sandwiched' generation  a term coined in the 1980s that refers to their tendency to be caring for and supporting both elderly parents and their children  Baby Boomers need help in preparing for retirement. A significant proportion of them lack strong financial know-how, and as a result, banks, insurers and financial services firms have an opportunity to enhance the services and capabilities they provide to their baby boomer customers. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Baby Boomers were born between 1943 and 1965. This post-war period was largely peaceful and economically prosperous, and unlike previous generations, Baby Boomers enjoyed unprecedented employment and educational opportunities. But they're by no means a homogenous group, and companies cannot treat them as such. Each Baby Boomer has discrete individualized needs, attitudes and behaviors so, like any generation, a one size fits all approach will not reach them. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> So what will we see in the immediate outlook? Well over the next decade they'll flock to the <a href="http://www.ibisworld.com/redirect.aspx?partnerid=news&type=global&indid=2310"> International Tourism </a>industry, and in the <a href="http://www.ibisworld.com/redirect.aspx?partnerid=news&type=global&indid=1540"> Global Logistics  Shipping </a>industry, Baby Boomer demand will contribute to cruises becoming one of the fastest growing sectors in the international tourism market. Boomers from industrialized nations travel and spend more on vacations than any other age group. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> They're also big spenders on <a href="http://www.ibisworld.com/redirect.aspx?partnerid=news&type=global&indid=720"> Global Toiletries and Cosmetics </a>, particularly within the skincare ranges, products that seek to delay the natural ageing process have been eagerly adopted by the Baby Boomer generation to the extent that they have become a key driver of growth in the industry. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Towards 2020, as more of them enter retirement, they will contribute to higher demand in the <a href="http://www.ibisworld.com/redirect.aspx?partnerid=news&type=global&indid=1800"> Global Direct Life, Heath and Medical Insurance Carriers </a>; <a href="http://www.ibisworld.com/redirect.aspx?partnerid=news&type=global&indid=1850"> Global Insurance Brokers and Agencies </a>; and <a href="http://www.ibisworld.com/redirect.aspx?partnerid=news&type=global&indid=1820"> Global Reinsurance Carriers industries </a>. And we'll also see their increasing patronage of industries in the medical sector, like physical therapy, optical, and dental. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Last year, the oldest of the nation's Baby Boomers became eligible to collect retirement benefits, and their exit from the workforce over the coming decades will continue to shape corporate America. These changes in the US age profile have important implications for both government and industry alike, so it is crucial that each seek to understand this dynamic generational group. </td> </tr> </table> </td> </tr> </table> </td> </tr> <!--end global article --> <tr> <!-- industry risk article --> <td> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td> <a id="a5" name="aRisk" class=""></a> <p class="heading2"> <br /> Industry Risk: 2008 Olympics  Beijing, here we come! </p> </td> </tr> <tr> <td valign="top" width="620"> <table border="0" cellspacing="0" cellpadding="0"> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> The 2008 Olympics started off with a bang on 8.08.2008, and the eyes of the whole nation will be on what is believed to be the team to beat for the largest number of medals. NBC is broadcasting a vast variety of events and although most attention will be on the Olympics themselves, much will also be made of advertisements run during the broadcasts. A record number of people from all over the world are set to visit the Olympics in August 2008, and there will be no shortage of Americans supporting their favorite sportspeople. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Sporting events are great opportunities for advertising companies to take advantage of an audience that they are not usually exposed to. However, despite the stimuli of a Presidential election and Olympic Games on the <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1433"> Advertising Agencies industry </a>in 2008, slow forecast growth in Real GDP is expected to put pressure on companies to trim back their promotional and public relations budgets. In addition, the importance of "below-the-line" forms of advertising, such as leaflets, direct mail and email has increased over time, and now provides a greater level of competition to traditional advertising. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> The <a href="http://www.ibisworld.com/redirect.aspx?partnerid=News&indid=1124">International Airlines </a>industry will also be affected by the Olympics, with most Americans travelling to see the games live, choosing to fly vie a US carrier. The Greenback hasn't brought much value to travelling overseas lately, however, this won't stop many fans (not to mention the sportspeople and their entourage) from getting on a plane and flying across the Pacific to enjoy the atmosphere and learn more about the Chinese culture. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Risk in the Advertising Agencies industry is forecast to be at a HIGH level over 2008, an increase compared to a MEDIUM-HIGH level observed in 2007. The International Airlines industry however will face a lower risk of a MEDIUM level in 2008, however still higher than a MEDIUM-LOW level in 2007. Both industries are likely to be significantly affected by slowing economic conditions and a weak US dollar. Over 2009, the forecast will improve for the overall economy and the Advertising Agencies industry, while International Airlines will experiences a lower demand and higher risk. </td> </tr> <tr height="5"> <td> </td> </tr> <tr> <td class="tabletext"> Below is an outline of the historical and forecast risk score of the above mentioned industries. These can be compared to overall risk for the US economy. </td> </tr> <tr height="5"> <td> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" class="tbl"> <tr> <td width="" class="tbcDarkGreen"> <strong>Industry Name</strong> </td> <td width="" class="tbcLightGreen"> <strong>2005</strong> </td> <td width="" class="tbcLightGreen"> <strong>2006</strong> </td> <td width="" class="tbcLightGreen"> <strong>2007</strong> </td> <td width="" class="tbcLightGreen"> <strong>2008</strong> </td> <td width="" class="tbcLightGreen"> <strong>2009</strong> </td> </tr> <tr> <td class="tbcMidGreen-leftalign"> <strong>Advertising Agencies </strong> </td> <td class="tbcWhiteLeftAlign"> 4.87 </td> <td class="tbcWhiteLeftAlign"> 4.81 </td> <td class="tbcWhiteLeftAlign"> 5.66 </td> <td class="tbcWhiteLeftAlign"> 6.31