Global advertising spend projected to grow 5.6% in 2014
Global advertising spend has been projected to grow by 5.6 per cent in 2014 and a further 5.3 per cent in 2015 in the latest industry summary to be published by Warc.
The marketing forecast was compiled from a survey of 12 countries with this year’s figure representing a 1.2 per cent upgrade from the last such report in October thanks primarily to the stimulus provided by Fifa World Cup and Sochi Winter Olympics.
India, Brazil and China lead the way in terms of raw growth at 14, 12.3 and 12.4 per cent respectively but Britain posts the highest increase in advertising spend outside the BRIC nations with a growth rate of 5.8 per cent, just ahead of US growth at 5.6 per cent.
Suzy Young, data and journals director at Warc, commented: "This year is set to record the highest annual rate of growth since 2010, when the industry was bouncing back from recession. This is largely because the outlook for the global economy is now stabilising and advertisers are starting to feel confident about making additional investments."
If inflation is accounted for the comparative growth figures for 2014 and 2015 equate to 3.2 and 2.7 per cent respectively.