World ad spending should grow this year, even as the U.S. market goes slack, according to a new forecast from ad agency ZenithOptimedia. The London-based firm raised its ad spending estimates, projecting 5.2% growth for 2005, up from the 4.7% the firm forecast in July. The strongest growth markets are India, China, Brazil and Russia.
North American ad spending is expected to increase just 3.6% this year, down from 6% in 2004. European growth is expected to total 3.1%, down from 6.1% in 2004.
By contrast, Latin American spending should rise 19.3%, up from 12.9% in 2004. Advertising in the Middle East and Africa is expected to rise 17.1%, fueled by the explosion in oil sales. Saudi Arabian advertising, for example, is seen soaring 26.6% this year.