HENLEY-ON-THAMES: Advertising expenditure in Europe will increase by 1% at current prices in 2008 and by 1.6% in 2009, with the Eurozone posting growth of 0.7% and 1.6% respectively over the same period, according to the latest edition of WARC's European Advertising & Media Forecast.
This year's growth rate for the 12 Eurozone countries has been revised down from an estimate of 2.3% predicted in July, and actually represents an overall decline in real terms (i.e., after allowing for inflation).
Of the 19 European countries included in the Forecast, Spain's advertising market is likely to post the worst overall figures, following up a decline in marketing expenditure of 6% this year with a fall of 2% in 2009 (at current prices).
Belgium, France, Italy and the UK are also all expected to struggle, with their adspend levels rising at rates between 0.3% and 1.1% this year, and growth continuing to lag in 2009.
Poland, by contrast, is set to be the fastest-growing market, posting uplifts of over 7% both this year and next, with Hungary, Norway and Greece registering improvements of over 4% in 2008 and 2009.
Television's share of media in the European Union nations analysed is set to fall by 0.3% this year to 31.4% overall; newspapers will also post a drop off of 1.2% year-on-year to 31.3%.
Online is the only medium predicted to increase its overall share in 2008 – growing by 2.1% to 11.1% – and is set to enjoy a similar upswing in 2009.
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Data sourced from World Advertising Research Center