According to the findings of IAB Europe and PwC survey, the countries enjoying the strongest YoY growth rates were Slovenia (77%), Poland (60%), Austria (45%), Finland (34%) and Turkey (33%).

The top ten markets in Europe account for 93% of the total value of the advertising market.

In 2008, UK recorded the highest level of revenues from online advertising - 3.44 billion euros, followed by Germany – 2.97 billion euros and France – 1.82 bln euros, Italy -799 mln euros, Netherlands -794 mln euros, Spain - 628 mln euros, Sweden - 442 mln euros, Denmark - 415 mln euros, Norway - 345 mln euros si Belgium - 286 mln euros.



The European countries outside the top ten are currently enjoying the strongest growth. Thus, Poland has experienced 60% growth up to 253 million euros, followed in the list by Austria (202 mln euros), Finland (178 million euros), Turkey (131 million euros), Hungary (82 mln euros) and Greece (40 mln euros).




The last three positions are occupied by Slovenia (20 million euros), Romania (19 million euros) – for the first time included in the ranking compiled by IAB Europe, and Croatia (16 mln euros).

The search format accounted for 43% of online ad expenditures in Europe reaching 5.6 bln euros. The display format accounted for 29% of the total market value (3.8 bln euros). Classifieds are next in terms of year on year growth rates, accounting for 26% of ad spend and a value of 3.8 bln euros.

“2008 was a tough year for online advertising. We firmly believe that the industry will continue to grow through the imagination, innovation and investment of its players” Alain Heureux, President and CEO of IAB Europe said.

"2009 is set to be a difficult year for online advertising. Decline is likely in a number of mature markets and, where there is still growth, we expect it to be much lower than previously. However, online continues to outperform other media and to increase its ad market share. The post-downturn era should therefore see another growth spurt for online", said Eva Berg-Winters, Senior Manager at PwC.

The total value of online advertising in 2008 was 72,417,533 lei (19.66 million euros), up 70% year-on-year, according to the recent edition of Romanian Online Advertising Study), carried by IAB Romania and PricewaterhouseCoopers.