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The State of Advertising Spending Worldwide in 2024

26th June 2024

Topic: Audience data, Data
  • What Are The Top Advertising Markets Worldwide?
  • A list of Top 50 Spending Advertising Markets Worldwide
  • Advertising Spend for Sports Events in 2024
  • Trends in Advertising Spending in 2024
  • The Sector-Specific Growth of Advertising Spend in 2024
  • Emerging Trends in AdTech 
  • 2024 Global Advertising Forecasts

In 2024, the global advertising landscape is undergoing significant transformations, with unprecedented growth and shifting regional dynamics. 

The United States and China lead the global ad market, closely followed by the Asia-Pacific (APAC) region and Western Europe. The projected global advertising expenditure for 2024 is estimated at a staggering 754.4 billion U.S. dollars, with digital ad spending taking the lead, capturing 59.6% of the global spend.


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What Are The Top Advertising Markets Worldwide?

The top advertising markets worldwide in 2024 are led by the United States according to the report by Statista, with an estimated ad spending of 422.3 billion U.S. dollars, followed by China, the United Kingdom, and Japan. The Asia-Pacific (APAC) region and Western Europe also feature prominently in global ad spending, with the United States and Canada forming the highest-spending ad market, closely followed by the APAC region. 

Latin America is projected to be the fastest-growing ad market between 2024 and 2026, with substantial growth forecasted in this region. These insights provide valuable information for advertisers, marketers, and businesses seeking to understand the global advertising landscape in 2024, as they navigate the dynamic and evolving industry trends. 

Advertising_Spending_Worldwide_in_2024A list of Top 50 Spending Advertising Markets Worldwide

 As of 2024, the top spending advertising markets worldwide are experiencing notable changes in ad expenditure, reflecting the dynamic nature of the industry and its impact on global economies. Here is the list: 

  1. United States – $422.3 billion 
  2. China – $231.1 billion
  3. United Kingdom – $58.2 billion
  4. Japan – $55.83 billion
  5. Germany – $27.3 billion
  6. Canada – $22.94 billion
  7. France – $20.78 billion
  8. Australia – $19.43 billion
  9. Brazil – $17.82 billion
  10. South Korea – $17.31 billion 
  11. India – $16.03 billion
  12. Italy – $11.7 billion
  13. Spain – $10.58 billion
  14. Russia $9.76 billion
  15. Mexico – $9.74 billion
  16. Netherlands – $7.69 billion
  17. Indonesia – $6.95 billion
  18. Switzerland – $6.69 billion
  19. Sweden – $6.44 billion
  20. Thailand – $4.79 billion
  21. Austria – $4.59 billion
  22. Poland – $3.87 billion
  23. Belgium – $3.63 billion
  24. Norway – $3.57 billion
  25. Argentina – $3.19 billion
  26. Philippines – $3.18 billion
  27. Denmark – $3.15 billion
  28. Singapore – $3.06 billion
  29. Turkey – $3 billion
  30. Czechia – $2.87 billion
  31. New Zealand – $2.72 billion
  32. Vietnam – $2.59 billion
  33. Saudi Arabia – $2.56 billion
  34. South Africa – $2.48 billion
  35. Iran – $2.36 billion
  36. Israel – $2.26  billion
  37. Colombia- $2.22 billon
  38. Chile – $2.09 billion 
  39. Ireland – $1.93 billion
  40. Finland – $1.84 billion
  41. Portugal – $1.82 billion
  42. Malaysia – $1.76 billion
  43. Greece – $1.74 billion
  44. Egypt – $1.69 billion
  45. United Arab Emirates – $1.67 billion
  46. Qatar – $1.38 billion
  47. Peru – $1.27 billion
  48. Hungary – $1.19 billion
  49. Romania – $1.1 billion
  50. Nigeria – $0.96 billion

Source of data: Statista 

Advertising Spend for Sports Events in 2024

The global spending on sports media rights is forecast to reach $60.9 billion in 2024, up 18.9% on pre-pandemic levels, with traditional broadcasters digging deeper to retain access to prime sports assets.

The latest Digital Advertising Futures report forecasts that investment in advertising spend is set to increase by 6.2% in 2024, with the Paris Olympics, UEFA Euro 2024, and key election presidential campaign in the US contributing to this growth.

Broadcasters and streamers are expected to benefit from the return of major sports competitions in 2024, including the Paris 2024 Summer Games, UEFA Euro 2024, and the T20 Cricket World Cup.


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Trends in Advertising Spending in 2024

1. Digital Dominance

Digital advertising continues to dominate the landscape, capturing a significant share of the market. This is driven by increased spending on retail media, paid social, and programmatic channels, reflecting the growing importance of online platforms in reaching consumers.

2. Shift to Connected TV

Connected TV spending is on the rise, with a substantial year-over-year growth of 24.2% in Connected TV (CTV) spending projecting a rise in CTV ad spend to $30.10 billion by 2024, with an anticipated climb to $42.4 billion by 2027.

3. Regional Growth Disparities

The Americas are expected to experience the fastest growth in ad spending, followed by Asia-Pacific and EMEA. This highlights regional disparities in advertising investment and reflects varying economic conditions and consumer behaviors.

4. Category-Specific Growth

Travel and tourism are anticipated to see significant growth in ad spending, benefiting from a post-pandemic rebound. Additionally, media and entertainment are projected to experience substantial growth, driven by the proliferation of content and streaming services.

5. Emphasis on Personalization

The advertising landscape is witnessing a notable shift towards personalized advertising, where data and technology are harnessed to craft tailored messages for consumers. This trend underscores the rising significance of targeted and relevant content in captivating audience attention, reflecting a deeper understanding of individual preferences and behaviors.

6. Sustainability and Social Responsibility

Advertisers are increasingly incorporating sustainability and social responsibility themes into their campaigns. This reflects a broader societal shift towards conscious consumerism and the demand for brands to demonstrate ethical and environmental stewardship.


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The Sector-Specific Growth of Advertising Spend in 2024

Travel and Transport

  • Anticipated growth rate of advertising spend: 7.5%, surpassing the global average.
  • Forecasted US digital ad spending within the US travel industry: $6.79 billion, reflecting a growth of 14.3% in 2024.
  • Worldwide travel and tourism market is projected to grow by 3.47% (2024-2028), reaching a market volume of US$927.30 billion in 2024.


  • Projected growth rate of advertising spend: 7.4%, indicating substantial investments compared to the global average.


  • Retail media spend is expected to reach around $140 billion in 2024, showing significant growth potential in this sector.
  • Retail accounting for over a quarter (28.7%) of all US digital ad spending in 2024, with substantial growth in digital ad sales.

Emerging Trends in AdTech 

New Ad Experiences with DOOH

  • Digital Out-of-Home (DOOH) advertising, represented by interactive billboards and screens, brings opportunities for brands to engage with audiences.
  • Coca-Cola used weather and location data to display targeted advertising on outdoor screens, demonstrating the potential for personalized and contextualized DOOH ads.
  • The development of interactive solutions, integration of augmented reality elements, and the emergence of new formats for user engagement are expected in DOOH advertising in 2024. 

AI and ML Optimization

  • Smart AI algorithms can choose optimal content, color schemes, slogans, and ad headlines, analyze data, predict the best time for displaying ads, and analyze bidding patterns during programmatic auctions.
  • The introduction of generative AI features in digital advertising platforms and the expected growth of AI in marketing and advertising from $27.4 billion (2023) to $107.4 billion by 2028. 

Transparency, Measurability, and User Data Protection

  • Efforts to develop unified systems for measuring campaigns on connected TV (CTV) and digital out-of-home (DOOH) screens and the adoption of Unified ID for proper attribution and campaign measurement.
  • A shift towards contextual targeting over cookie-based targeting and the embrace of DOOH and CTV advertising that doesn’t depend on cookies. 

Significance of Media Partnerships

  • Publishers and retailers are collaborating to create unique commercial opportunities, enhancing commercial performance through persuasive advertisements or sponsored content.
  • The focus on optimized user experiences and the expectation of paying more attention to media partnerships in 2024. 

Zero-Code AdTech Platforms

  • The rise of white-label business models in the ad tech world, enabling new companies to enter programmatically by partnering with tech providers and rapidly setting up independent solutions without coding.
  • The expected increase in demand for white-label solutions in 2024 and beyond, simplifying market entry for new ad tech companies and providing additional sources of income to technology vendors. 

Sustainability in Ad Tech

  • The ad tech industry is addressing environmental concerns by leveraging intelligent advertising technologies like AI to optimize ad targeting and delivery, reducing energy consumption.
  • The shift towards sustainable programmatic advertising strategies and the integration of sustainable practices in the ad tech industry. 

2024 Global Advertising Forecasts

Projections indicate a solid growth in global advertising spending for 2024, with estimates ranging between 4.6% and 7.2%, nearly double the projected 2023 growth of 2%-5%.

Macroeconomic improvements and a positive economic outlook for 2024 are expected to drive this growth, with a projected increase of 13% in the top twelve global markets as a percentage of GDP. 

Factors driving growth include the US presidential election, the Paris Olympics, and a shift in advertising spend from traditional channels to new media channels.


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