Global ad spend is projected to grow by 8.3% this year to a total of $881bn, continuing the market's post-Covid recovery. But what about 2023?
We can already see economies stalling as inflation rises sharply due to supply-side pressures, exacerbated by war in Europe and a slowdown in Chinese manufacturing. This is squeezing consumers' disposable income, which is impacting numerous sectors.
As a result, ad market growth will slow down significantly and WARC has downgraded its investment forecasts, removing $90bn of growth potential from global ad trade this year and next.
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