25 June 2010 17:22
Forecasts for global advertising spending have been upwardly revised.
GroupM has predicted that the industry spend will grow by 3.5 per cent this year to $451 billion (£300 billion).
This is a revision of 2.5 per cent on a forecast at the start of the year.
The growth is expected to continue into 2011, with ad spend picking up despite expected declines in some areas.
According to the study, spending is set to grow in 'the new world economies' of Brazil, Russia, India, Indonesia and China, with the countries collectively commanding over a third (34 per cent) of global spend.
Commenting on the findings, GroupM's chief investment officer Rino Scanzoni, said: "China remains the world's biggest contributor to ad growth in 2010, accounting for one in three of all net new ad dollars we expect this year, and one in five as the rest of the world catches up in 2011."
Posted by Stanley Jack