Russia is poised to set the pace in advertising spending this year, according to global marketing analysts Warc.

In figures just released, the company predicts that Russia will be the world leader with growth of 16.5 per cent, followed by the other fast-growth and BRIC economies of India (14%), China (11.5%) and Brazil (8.5%).

Meanwhile the UK will avoid flatlining, it believes, due to the Olympics.

“The UK should receive benefits as a result of the Olympic Games in London, which will help drive ad spend in the country up by 4.2% compared with the previous 12 months,” says Suzy Young, Warc's data editor.

The Warc International Advertising Forecast monitors 12 key global markets, and in 2011 ad spend rose by an estimated 3.6% at current prices.

And in 2012 the sector should expand by 4.5%, although this total falls to a more modest 1.9% when inflation is taken into account.

At the other end of the spectrum, Italy is the only featured country likely to witness a contraction, off by 0.8%, as a consequence of domestic economic troubles and broader issues facing the eurozone.

Elsewhere, France and Germany are both expected to yield growth of around 1%, while Japan bounces back from a challenging 2011 with a 2.5% expansion year on year.

Buoyed in particular by the presidential elections, the US – the world's largest advertising market – is pegged to experience a 4.1% increase in ad sales.

Canada, where revenues are due to climb by 5.1%, was one of only four nations to have their prospects upgraded from the last International Advertising Forecast, published in November. The others were Brazil, China and Japan.

"With continuing debt worries affecting mature markets and knocking business and consumer sentiment, it is no surprise that 2012 ad spend growth will come from emerging markets," says Young.

"Without the support from the US presidential election and major sports tournaments, the outlook would have been even worse. But there are some bright spots with the data, with TV's performance looking particularly encouraging."