NEW YORK: Total adspend in Latin America is expected to increase 7.5% in 2013, with Brazil leading the way as it gears up for the World Cup in 2014, new figures have shown.
Estimates from eMarketer, the insights provider, forecast a 9% rise in Brazilian advertising expenditure to $20.2bn this year, when it will account for 54.6% of the $37bn total for the region.
And Brazil will continue to be the main driver of growth for the continent up to 2017, when its share of total advertising expenditure will reach 56.8%.
Mexico is also predicted to post above average growth this year, with an 8.4% rise taking it to a value of $4.6bn, accounting for 12.4% of the spending in the region.
Argentina, however, is expected to record a 6.7% drop in advertising spend, as the industry struggles with inflation and exchange rate fluctuations.
But eMarketer anticipated that advertising activity in those countries outside the top three would more than offset Argentina's losses, with an 11.1% rise taking the share of ad spending by these other countries to 22.6% this year, up from 21.8% in 2012.
Digital ad spending in the region is also growing fast, up 21.5% in 2013 to a total of $4.1bn, a figure which is predicted to double to $8.3bn by 2017.
Once again, Brazil dominates this channel, its total of £2.5bn in 2013 accounting for 60.1% of all digital adspend in the region.
But Mexico is the fastest-growing country in terms of digital spending, up 32.1% in 2013, and its share of the total is forecast to grow from 16% this year to 18.5% by 2017.
Argentina's growth is expected to be considerably slower, with only single digit increases predicted over the next four years.
Data sourced from eMarketer; additional content by Warc staff