The firm said that ad spend will increase in developing markets by 8% and that online will account for 15% of spend. Central and eastern Europe are predicted to see growth of 7.4%, with Asia Pacific and Latin America seeing 8.2% and 10.1% respectively. North America will see a growth rate of 3.6% over the course of the year.

However, despite the optimism for 2013, ZenithOptimedia has lowered its global expectations for 2012 to 3.8% from 4.3% due to weakness in the European market. The region is predicted to see a slow return to growth, 0.9% in 2013.

Steve King, CEO at ZenithOptimedia, said: “Advertisers are broadly continuing to invest, despite the global economic concerns and issues. However, they are seeking to ensure that any expenditures are delivering strong return on investment. The US continues to deliver solid growth. This, combined with the growth in developing markets and in digital media, has helped mitigate the drop in eurozone spending.”