AA: Adspend set for decade of growth.(Advertising Association)

Reports of the death of adspend growth have been greatly exaggerated, according to the Advertising Association, which instead predicts that it will increase by a third during the next decade.

Forecasters suggest TV and press advertising will increase by between 10 per cent and 25 per cent in real terms between 2004 and 2016. Outdoor and radio are expected to do even better, with growth rates of between 30 per cent and 50 per cent forecast.

However, internet advertising is likely to record the most spectacular growth levels, albeit from a small base. The AA suggests growth in the online sector could be as high as 300 per cent.

Dismissing predictions …