The global internet advertising industry could grow by ten per cent this year, according to new forecasts from ZenithOptimedia.

The growth is more than ZenithOptimedia has originally predicted is mainly attributed to paid search.

India is expected to experience a 7.7 per cent increase level this year, while China’s advertising industry will expand by 5.4 per cent.

Despite this, ZenithOptimedia said many advertisers will be cutting their budgets as they rein in on spending amid the current recession.

“Faced with extreme uncertainty, advertisers in most sectors planned for the worst and cut their costs in anticipation of steep drops in revenue,” the firm said. “The internet’s familiar virtues of transparency…[has] proved even more attractive in a recession than ever.”

The company said the global advertising market will recover in 2010, with Western Europe experiencing some stagnation.

Recent figures released by the Interactive Advertising Bureau reveal that search marketing posted the strongest year-on-year growth rate at 26 per cent.
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