Global Marketing Spend to Pass $1 trillion in 2017
Smith: “There is no evidence of a Brexit-driven recession at the time of this writing” Global marketing spend will exceed $1 trillion for first time in 2017, with advertising accounting for $552bn of this, according to media investment management group, GroupM. However, slowing growth in China and Brazil this year have led to GroupM revising down its 2016 growth estimate to 4.0 per cent from the 4.5 per cent earlier predicted. GroupM China reports a “new normal;” 2016 growth is now forecast at 6.6 per cent, revised downward from 9.1 per cent as the slowdown in fixed investment and profits affects consumer demand. The initial advertising growth estimate for China in 2017 is 7 per cent. These estimates keep China among the top growing large markets, with ample fundamental support tied to growing urbanization and consumer confidence, though China no longer boasts the double-digit growth rates of recent years. […]
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