Asia Pacific Adspend is likely to grow by 5.2 percent in 2014, according to the Carat Global Adspend Forecast.

Figures suggest a slower rate of growth than the 6.2 percent projected earlier in the year.

2013 is also expected to come in at a lower 4.7 percent growth rate but Asia Pacific will still be much higher than Europe or North America.

Indonesia, Philippines and Vietnam are showing the regional highest growth rates in 2013 but are expected to be somewhat lower next year.

India is projected to see healthy 7 percent increase in advertising expenditure  for this year.

In 2014, a 7.6 percent rise is forecast, despite the continuing slowdown in the economy.

China is likely to witness a 7.9 percent growth next year after seeing a projected 6.9 percent expansion in advertising budgets this year.

Commenting on the forecasts, Nick Waters CEO of Aegis Media Asia Pacific said:  “Planned tapering of the Federal Reserve QE program creates some concerns in the region, but there are signs the improving confidence of consumers in western economies will finally provide more support for exporters.”

“We can expect more moderate rates of growth in China in line with slowing of the GDP growth, but the market continues to be the major player in driving growth in Asia Pacific.”

Waters also said technology’s impact on consumer behaviour is continuing to drive the acceleration of digital media as agencies and clients adapt to the new possibilities.

Globally radio is expected to see a 0.3 percent revenue growth after a forecast 0.7 percent decline this year.