The Eurozone remains 20 per cent below its 2007 advertising peak, GroupM has warned in its biannual This Year, Next Year futures report, but it suggested that global advertising investments will reach $534bn this year.
The company predicts investments in 2015 rising an additional five per cent to $560bn, seeing the pre-crisis peak of 2007/2008 exceeded in real terms.
Dominic Proctor, president of GroupM Global, stated: “Coupled with a rising general confidence and a specific comfort around digital marketing, though notwithstanding some geo-political uncertainty, we are seeing an uplift in some of the ‘older economies’ as well as the new.”
The United States contributes fully one-quarter of incremental ad dollars, while China ranks second and is expected to pull in $76bn.
This Year, Next Year report editor Adam Smith stated: “Despite the slowdown in China's general economy from 2012, its consumer economy continues to expand. This, plus intensive digitisation of advertising, keeps China ad investment rising at or near double-digits, with no large print legacy to correct.”
Agencies in south-east Asia, including Indonesia, Malaysia, Thailand, Philippines, Singapore and Vietnam, will face political and economic challenges, the report predicted, and this year will collectively slip from double- to mid-single digit ad growth.