LONDON: GroupM's timing in releasing its latest This Year Next Year forecast of global adspend is unfortunate. Its bullish predictions amid the current financial markets bearpit suggest Panglossian optimism.

In fairness, the data gathering and analysis that underpins GroupM's predictions took place before the subprime bubble finally burst - but many onlookers (including WARC News) saw the storm clouds amassing. As, presumably, did GroupM and its savvy overseer Sir Martin Sorrell.

Despite which, the report envisages roses, roses all the way, predicting a 6% rise in global adspend this year and 7% in 2008. Its optimism for next year is based on the upcoming Beijing Olympics and the US presidential election.

The former event will see Asia Pacific leading the world in terms of adspend growth, predicted at 38% in 2008 from a 2007 growth base of 30%.

And although the internet remains the fastest growing medium worldwide, TV will account for almost half of all global adspend.

For an fuller overview of the report click here.

Data sourced from multiple origins; additional content by WARC staff