Marketers continue to gradually increase their global ad spending, as expenditures grew 3.5% in Q2 2013 and 3.5% on a year-over-year basis for the January-June periods of 2013 and 2012. Although many marketers remain conservative with advertising budgets, those in Latin America continue to buck the norm, increasing their expenditures by 13.1% (to $13.5 billion) for the January-June period.
All regions contributed to global growth for the first half of the year except Europe, where marketers remain modest with their ad budgets amidst the regions’ continued fiscal crisis. Elsewhere, ad spend continued to recover after slumping during the economic downturn.
Argentina contributed significantly to growth for the Latin America region, while Indonesia, China and the Philippines all contributed to double-digit ad growth in Asia-Pacific for the first half of 2013. In Europe, ad spend increased in Norway, Switzerland, and Greece (2.5%, 0.6%, and 7.4% respectively), while expenditures declined in all other countries in the region.