Latin Ad Boom Continues

BY CHRONICLE STAFF

Latin American advertising revenues will grow by 6.4 percent this year to $21.3 billion. Next year, the market should grow another 6.9 percent to $22.8 billion, according to the latest forecast from London-based ad agency ZenithOptimedia. 

That means Latin America remains among the fastest-growing advertising markets worldwide. This year, for example, Latin Americas ad market will grow more than those of the United States (3.3 percent growth), Asia-Pacific (6.3 percent) and Western Europe (4.2 percent), according to the ZenithOptimedia forecast.

"Latin America is ... down slightly – owing to a softening of exports and domestic demand in Mexico – but is still growing at about twice its long-term average rate," ZenithOptimedia says.

The Internet is also becoming an important advertising outlet in several countries. In Chile, its now the fastest-growing ad channel, while its the second-fastest ad outlet in Brazil, although the size in both countries...