Global advertising spend & economic outlook, 2009-2011
Warc's forecasts suggest the global advertising sector will continue its recovery in 2011, with overall expenditure rising by 5.3% year-on-year. In 2010, adspend increased by an estimated 5.9% year-on-year.
But the global economic downturn caused such a sharp decline in adspend in 2009, that despite growing in both subsequent years, total global advertising expenditure is only forecast to reach $443bn in 2011 - still below its pre-recession peak.
FIG 1: Steady recovery forecast following economic downturn
Nevertheless, the positive growth trend suggests that more and more of the world's major advertisers are increasing their marketing budgets to reflect rising consumer optimism, with many shoppers now ready to spend as fears of a "double dip" recession recede.