LONDON/WASHINGTON: Global adspend is growing at a faster rate than previously expected, driven by emerging markets such as Brazil, Russia, India and China.

According to Warc's new International Ad Forecast, expenditure will grow by 4.8% across the 12 major markets assessed in 2010.

This marks an increase from the Forecast's previous estimate of a 4.5% uptick.

Similarly, adspend for 2011 is set to rise 4.5%, an upwards revision from the 4.3% surge predicted by the last Forecast.

The BRIC nations are set to be the main drivers of growth, with Brazil pegged to be the star performer this year, as expenditure improves by 19.8%.

Russia (up 16.5%), India (up 16%) and China (up 13%) are the next-best markets, while Australia and the UK will see the fastest growth in the developed world, rising 7.9% and 6.7% year-on-year in turn.

Conditions will be more sluggish in Japan, where adspend is forecast to rise by just 1.3%.

The overarching adspend trends are reflected by broader macroeconomic shifts, with Warc forecasting that Brazil's economy will grow by 7.1% this year.

By contrast, Japanese GDP is predicted to increase by just 2.9%.

Fast-growth BRIC economies, with low public and private debts, have generally weathered the global financial crisis better than their developed world counterparts.

Suzy Young, data editor at Warc, said: "While the latest data are encouraging, it is important to remember that last year saw advertising expenditure fall 13.4%.

"We still have some way to go before we approach anything like the levels seen in 2008."

Analysis contained in the International Ad Forecast cites online as the best performing channel, with spend set to climb 15.1% in 2010.

But print media is still struggling, with magazines down 2.9% and newspapers off 3.1%.

The US will remain the world's largest ad market in 2010, delivering 43.7% of total ad revenues.

Japan and Germany are ranked second and third, on shares of 12.8% and 7.8% respectively.

"The BRIC markets are driving growth, but are still only expected to take a 14% share of total spend by the end of 2011," Young commented.

Data sourced from Warc