Global ad spend set for growth

Growth in the global advertising market is set to accelerate in 2008, despite the recent credit squeeze, with the Olympic Games, Unites States elections and European football highlighting a year that is full of opportunities for marketers.

According to ZenithOptimedia, global advertising expenditure will grow by 6.7 per cent in 2008, up from 5.3 per cent this year, with developing markets taking over as the main contributors to growth.

China, in particular, is expected to flourish in the market, with ZenithOptimedia predicting it will become the fourth largest advertising territory, ahead of Russia in sixth.

The report also identified continued growth in internet ad spending, which will likely increase by as much as 69 per cent between 2007 and 2010, raising its market share from 8.1 per cent to 11.5 per cent. In the process, the internet will overtake magazines to become the third largest medium for ads.

Despite the positive outlook, the report did warn that the housing downturn and credit squeeze would likely hit property and finance advertising in developed economies such as the US, Germany and the UK.
© Adfero Ltd