Publicis' flagship media agency has published its latest global advertising expenditure forecast, suggesting that Europe is "acting as a brake on global ad growth" compared to the flourishing networks across the world.

Having declined to change their $500bn estimate from last April, global spending is predicted to grow 5.1% in 2014 and 5.9% in 2015, once the European market emerges from its economic slumber. With Europe only moving out of financial recession in Q2 2013, ad-spend shrank 5.2% in 2012 - forecasting a 4.3% decline this year, a marginal improvement on a difficult road back. Conservative estimates suggest 0.7% growth in 2014 and a 1.9% increase the year after that.

Further abroad, Japan surpassed all expectations with growth of 3.5% in 2012, though a rise of just 1.9 % is anticipated for 2013. 

With the FIFA World Cup coming to Brazil next summer, ZenithOptimedia anticipate a 9.6% in 2013, leading the global market - following a "slightly disappointing" (though still globally impressive) increase of 7.6% in Latin America in 2012.

As for North America, which experienced a positive upswing of 4.4% in 2012, Zenith have downgraded the U.S and Canada to a smaller 3.4% growth.



"The stability of global ad-spend growth this year - a year without big events like the Olympics and U.S. elections - shows that the advertising recovery is on track, promising even stronger growth in 2014 and 2015," said Steve King, chief executive.

Mobile, in particular, is seen at the forefront of advertising, and where the bulk of expenditure is expected over the coming years. The rapid global adoption of smartphones and tablet devices has led analysts to predict growth of 77% in 2013, 56% in 2014 and 48% in 2015, with mobile now growing seven times faster than desktop Internet spend.

"After years of hype, mobile advertising has finally arrived," said Tim Jones, CEO of ZenithOptimedia North America.

"Its importance will only grow over the next few years as advertisers and agencies get to grips with the opportunities it offers, and improve its ability to measure and deliver return on investment."