Asia’s fastest-growing economies will continue to drive the highest adspend growth across the globe next year, according to Zenith’s latest adspend forecast.
Describing its ‘fast-track’ Asia bracket as Asian economies growing at scale, the report includes China, India, South and Southeast Asia within this group, predicting 7% growth into 2019. Close behind are Eastern Europe and Central Asia (6.7%) and Advanced Asia (3.4%)—classed as Singapore, Hong Kong, Australia, New Zealand and South Korea—Japan is its own market predicted to see 2.2% growth.
However, Eastern Europe and Central Asia is predicted to overtake fast-track Asia by 2021.
Overall, Zenith forecasted global adspend will increase 4.5% by the end of 2018, and by US$75 billion to 2021. The US will contribute to 29% of the ad expenditure, followed by China with 19% and India with 6%. As a region, Asia-Pacific is forecasted to grow 4.9% annually in the next three years, with India seeing the lion’s share of this in becoming the world’s eighth-largest advertising market following a huge 13.5% annual growth.