Advertising spend in Asia Pacific will grow by 5.6 percent in 2017 to US$156 billion, overshooting previous forecasts by 0.2 percent and ensuring the region holds its position as the second largest market after North America ($196 billion), says the latest Magna Advertising Forecast report from IPG Mediabrands. Growth is then expected to slow slightly for the next two years before rising to 5.6 percent again in 2020.
The report shows that as a region, Asia Pacific is performing significantly better than the world. Net ad sales globally will grow by 3.7 percent in 2017, a major drop from the 5.9 percent growth rate of last year. This analysis is corroborated by another recent forecast by Dentsu Aegis Network, which puts global ad market growth this year at 3.8 percent, down on 2016’s growth by 1 percent. This slower performance was not unexpected, says Magna’s report, because of 2017’s lack of major cyclical sports events and a natural slowdown following the spike caused by last year’s US elections.