New research has provided a comprehensive review of the countries most likely to welcome a lift in ad spend during 2014 and 2015.
According to findings from global media network Carat, Latin America will lead the way in terms of growth for both this year and the next, seeing a year-on-year increase of 12.1% and 11.8% respectively for the two periods.
Prospects in the region are being enhanced by spend in Brazil, which will see the fastest growth by country in 2014 (9.4%) and 2015 (8.1%)
Generally the study paints a picture of optimism, with global ad spend tipped to increase by 5.0% in 2014 compared to 2013. This is 0.2% higher than the amount predicted by Carat in March, while the 5.0% forecast in 2015 has stayed the same.
Europe slows up
Western European markets such as the UK, Germany and France have previously seen rapid growth in ad spend, but Carat’s prediction of a 2.7% year-on-year rise in 2014 for the entire region suggested that companies are now happy with how much they allocate to these markets.
There is also a sense that marketers are struggling to justify investments in struggling Eurozone economies. Ad spend in the UK, for instance, is expected to grow at a much faster rate (7.5%) in 2014 than Italy (-1.3) and Spain (2.6%).
Instead, companies appear to be investing heavily in regions they view as up and coming. India is set to welcome ad spend growth of 8.7% in 2014, while China’s follows closely behind on 7.6%.
Much like in Western Europe, a moderate but noticeable increase of 4.9% for 2014 is evident in North America as USA and Canada see their spend lift by 4.9% and 3.3% respectively.
Digital boosts figures
As has been in the case in so many advertising reports of late, brands placing more emphasis on marketing with digital technology appears to be part of the reason for such a promising set of stats.
In 2014 digital ad spend will grow at a rate of 16.1% year on year to account for 20.5% of all money spent. This trajectory will continue in 2015, rising to a contribution of 22.6%.
For a full list of the findings by country and region, consult with the table below.