Global advertising spending will bounce back to pre-recession levels by the end of the year, according to the latest prediction by ZenithOptimedia.
The media company said ad spending will increase by 4.1 percent and reach US$471 billion by the end of 2011, led by online advertising growth in both display and search, The Australian reported.
“The ad market continues to recover from the 2009 recession, but growth has dipped this year in response to economic pressures, natural disaster and political disruption,” ZenithOptimedia said in a statement.
ZenithOptimedia downgraded its 2011 growth forecast for North America and Europe to 2.3 percent and 3.3 percent, respectively, while Asia-Pacific is expected to grow 5.9 percent, higher than the original forecast of 4.6 percent.
Ad spending in the Middle East and Africa is expected to decline 12.1 percent this year, due to ongoing political unrest, Reuters reported.