Global ad expenditure will grow 5.4 percent in 2014, reaching US$524bn by the end of the year, according to the latest forecast by research agency ZenithOptimedia.

Radio is expected to contribute $2.58 billion to global growth in adspend from 2013 to 2016, but its share of global adspend is expected to go fall from 6.9 percent to 6.3 percent during the same period.

In Asia, despite a recent economic stimulus, adspend in Japan is expected to grow at just 2 percent a year through to 2016, the same as last year.

Australia, New Zealand, Hong Kong, Singapore and South Korea, which the agency has grouped as ‘Advanced Asia’ ad market, will improve from 2.6% in 2013 to 3.4% growth in 2014 and to 4.8 percent 2016.

China, India, Indonesia, Malaysia, Pakistan, Philippines, Taiwan, Thailand and Vietnam continue to grow extremely rapidly.

Ad expenditure in these countries grew 10.7 percent in 2013, and the forecast predicts growth of between 11 percent and 13 percent a year for 2014 to 2016.

China, which was the world’s third‐largest ad market in 2013, behind the USA and Japan is set to overtake Japan to become number two this year.

Indonesia, the thirteenth‐largest ad market in 2013 is predicted to rise and enter the top ten, pushing out Canada.