Report Snapshot

Digital ad spending in Latin America will decelerate in 2023 after two years of record-breaking spend. Ongoing uncertainty—including a slowdown in economic growth and persistently high inflation—will add downward pressure on ad budgets this year. Despite this, the region will remain one of the world’s fastest-growing digital ad markets with double-digit gains through 2027.

Key Question: After two years of rapid acceleration, how will total media, digital, and mobile ad spending fare in Latin America this year?

KEY STAT: Five of the six Latin American countries we track will dominate this year’s top 10 in digital ad spending growth. Inflation will fuel Argentina’s growth figures, but gains elsewhere will be genuine.