UPDATE: ZenithOptimedia upgrades global ad forecast to 4.8 per cent; Asia Pacific accounts for 30 per cent of global ad growth

Overall Asia Pacific (minus Japan) figures continue to rise and have been upgraded to 11.5 per cent from 10.6 per cent since last July’s forecasts for this year

Increased growth in China of 14 per cent this year is a key driver for the region. These figures have been upgraded from 12.1 per cent last quarter

Eight Asia Pacific markets (China, India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand and Vietnam) are now showing double digit growth for this year.

As seen at a global level television and internet are the two media that continue to grow share in Asia Pacific. ZenithOptimedia predicts television’s share in the region to rise from 40.8 per cent in 2009 to 42.1 per cent in 2012, and the internet’s share to rise from 13.8 per cent to 17.7 per cent.

Asia Pacific is also on track to surpass Western Europe this year to become the second largest advertising region in the world.

Globally, advertising has shrunk as a proportion of world GDP from 0.88 per cent in 2007 to 0.75 per cent in 2010. “We do not expect this proportion to rise while debt, unemployment and austerity threaten the recovery,” says a statement.

Forecasts for 2011 have increased from 4.5 per cent to 4.6 per cent but this now represents a mild slowdown from the unexpectedly strong 2010.

However, 2012 will be the strongest year of the upturn so far, with 5.4 per cent growth, and growth rates of over 6 per cent are in prospect once advertisers regain confidence in the economy.