J. G. Navarro
Research expert covering advertising and marketing with a focus on South America
Get in touch with us nowIn 2022, advertising spending in the United States amounted to an estimated 368 billion U.S. dollars, making it the leading global ad market by that measure. China ranked second with an ad expenditure of approximately 194 billion dollars, while Japan and the United Kingdom rounded up the top four with ad revenues of little more than 52 billion and 51 billion dollars, respectively.
According to another source's projections for 2024, Canada and the U.S. form the world's highest-spending ad market, followed by the Asia-Pacific (APAC) region and Western Europe. Behind the absolute values, however, lays a perhaps unexpected growth forecast. The estimates indicate that Latin America will be the fastest-growing ad market between 2023 and 2026, with its expenditure going from less than 24 billion to almost 32 billion dollars in the period – an increase of approximately 33 percent. For comparison, the U.S. and Canada combined and APAC were expected to grow between 13 and 16 percent during the same period.
Slightly more specific rankings, such as that of the leading global economies by digital ad spending, reveal predictable results and key differences. The U.S. and China remain on top, but the UK places third and well ahead of Japan, demonstrating the British market's remarkable focus on online strategies. The same applies to the list of countries by social media ad expenditure, showing that the UK spent an estimated two billion dollars more on that channel than Japan in 2022. The latter ranking also depicts a much tighter race between the U.S. and China for the top spot, with projected social media ad revenues of around 67 billion and 65 billion dollars, respectively.
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