The world’s largest media markets will return to growth in 2011, according to the latest advertising spending forecast, but with only a “meagre” recovery as emerging markets take a greater share of global ad budgets.

ZenithOptimedia, the media agency owned by Publicis Groupe, said on Monday that advertising spending in the developed markets of western Europe, North America and Japan would fall by 2.9 per cent next year, growing 1.5 per cent in 2011.