Advertising expenditure in the Middle East and Africa is expected to grow by 14.6 per cent in 2010, according to the latest global adspend report from ZenithOptimedia.
However, the increase will follow what is expected to be an overall drop of 11.4 per cent in adspend for 2009 – a figure that has contributed to ZenithOptimedia revising its global advertising expenditure forecasts downwards to -9.9 nine per cent for 2009. Figures for the Middle East and Africa also include the rest of the world not covered by North America, Western Europe, Asia Pacific, Central & Eastern Europe and Latin America.
This time last year, ZenithOptimedia expected global adspend to increase 4 per cent in 2009, despite the anticipated economic downturn. Today’s revision follows worst than expected performances in all parts of the world: spend in North America, the world’s largest advertising region, is expected to fall 12.6 per cent; Central and Eastern Europe, 20.9 per cent; and Western Europe; as well as the 11.4 per cent drop in the Middle East and Africa.
But the predicted rise in adspend for 2010 means that the Middle East and Africa will be the only region with significant growth, with North American and Western Europe expected to report 4 per cent and 1 per cent drops in adspend respectively for 2010.
“We now forecast a meagre 0.5 per cent recovery in 2010, down from 1.6 per cent in July,” said the report. “This figure marks a sharp disparity between developed markets, which we expect to shrink another 2.9 per cent, and developing markets, which we expect to grow by a very healthy 7.8 per cent.”