Eurozone crisis hits global adspend
Marketing intelligence service Warc has published research into the impact of the ongoing Eurozone crisis suggesting that the political turmoil on the continent will slice 0.9% from their previous forecast of 6.3% global adspend growth in 2012.
Germany, France, Italy and Spain are all expected to be the worst performers of 13 key markets covered by the forecast. Of these Spain has been particularly badly hit with its ad market projected to contract by 2% this year.
Globally a growing divide between the performance of the print industry and all other forms of advertising is expecting to widen with the former registering a small decline of up to 0.8% and a whopping 14% increase in online spend.
Suzy Young, Data Editor, Warc said: “Continued political and economic instability around the world has led marketing industry analysts to trim their growth forecasts over recent months.
“Nevertheless, persistent strength in fast-growth markets and the quadrennial effect of the Olympics and US presidential elections should ensure there is little prospect of the industry suffering a 'double dip' in 2012.”
Consensus adspend forecast, year on year % change