Asia Pacific adspend is predicted to grow 5.6 percent in 2014, according to global media network Carat.
The figure has been revised upwards from 5.2 percent in a previous forecast as the outlook for most regional economies remains strong.
Worldwide advertising revenues are set to accelerated by 4.8 percent to US$551 billion.
Globally, radio is expected to to see a year-on-year growth rate of 0.8 percent in 2014 and 2.4 percent in 2015. Radio figures weren’t broken down by region.
Asia Pacific now commands 35 percent of global media spend largely due to significant growth in Digital, strength in China and Japan, and rapid growth in Southeast Asian markets.
By media, Digital spend will likely continue to increase at a rapid global growth rate of 15.5 percent in 2014, outperforming all other media.
‘Digital’ includes advertising spend from Search, Display, Online Video, Social Media and Mobile.
Nick Waters, CEO Dentsu Aegis Network Asia Pacific said:“Southeast Asia continues to grow at a significant rate with the Philippines and Vietnam leading the way. China remains a major player in driving growth for Asia Pacific. Japan’s Digital spend will rise significantly, with growth in new media in all other markets across the region.”
Carat’s forecast is based on data received from 59 markets.