In less than five years–in 2014– North America will no longer be the world’s largest ad market, Bloomberg reports.
North American will be overtaken by the Asia-Pacific region, reports Bloomberg News, citing a report from eMarketer Inc. and Starcom MediVest Group.
Ad spending in Asia-Pacific will reach $173.2 billion in 2014, while spending in North America that year is projected to reach $190.6 billion, the story says.
"Increased consumer spending in China and India helped Asia-Pacific fare better in the economic slowdown than the rest of the world.
Companies worldwide have been boosting spending after cuts during the economic slowdown and designating more of their budgets to digital media and emerging markets," the article says.