Scamp has a good article on regional versus London creative.
Here is my 10 cents.
Just look at the last 5 years Cannes Grand Prix winners
2007. Toronto Dove. (Ogilvy)
2006. London Guinness. (AMV)
2005. London Honda. (W+K)
2004. London Playstation. (TBWA)
2003. Miami IKEA. (CP+B)
So London is still top by averages but 2 out of 5 are from the regions. I agree the US clients are happy to use good regional creative, why spend half your life on planes when there are usually good agencies in your area.
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