While the U.S. ad market is currently growing at a dismally slow 2.5%, global markets are alive and well. Recent figures from ZenithOptimedia show global ad spend increasing by $49 billion (roughly 9%) since 2005. Zenith forecasts this growth rate will continue, resulting in global ad spending of an estimated $504.5 billion in 2009.

Several global trends will have an effect on the stock-image space.

While some ethnic image categories will continue to do well, expect demand for Latino imagery to continue declining. During 2005-2007, Latin American and African/Middle Eastern ad markets grew three to four times faster than the world average of 5%. While Africa and the Middle East continue at a 19% growth rate, Latin markets have tapered off to 6%.

Quatar and Kazakhstan are currently the second- and third-fastest growing ad markets, suggesting that image producers should examine the economic potential of Arabic, Muslim, Islamic and other Middle Eastern and Central Asian subject matter.

Recently launched collections with a European flavor can count on market demand. Central and Eastern European markets have seen advertising growth rates of close to 18% per year. Russia doubles its ad spending every year, and Ukraine, Moldova, Belarus and Romania show similar figures. Serbia is the fastest-growing ad market globally, with a whopping 300% annual growth rate.

Asia is noteworthy for two reasons. First, its ad markets are growing above world average, with growth rates forecast at 9% for 2008 and 6% for 2009. Second, the upcoming Beijing Olympics will fuel demand for both editorial and creative imagery from the region.

Finally, ZenithOptimedia data also confirms the continued decline of print media, with Internet advertising taking a larger share of the global ad spend each year. Online image use can be expected to proliferate alongside the projected 30% annual growth of Internet ad spending.