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Shutterstock The rebound in global advertising this year has accelerated well beyond earlier expectations, leading to a massive upgrade to Magna s 2021 global advertising spending forecast. Whereas last fall Magna, the intelligence unit of IPG s Mediabrands, predicted a 7.6% global rebound in 2021, that figure has now been upgraded to record-high growth rate of 13.5%, or $78 bilion, en route to an all-time high of $657 billion in ad spending this year. Such growth stands in stark contrast to the -2.5% decline seen in 2020. North America saw the largest 2021 forecast upgrade from 4.2% in Magna s Fall 2020 outlook to 14.9% in this current Spring 2021 forecast, followed by Latin America s 6.6% upgrade to a similar 14.8% growth rate for this year. The APAC market, which will grow by 12.8% to reach $203 billion, saw the least change from Magna s earlier forecast, but all regions around the globe saw upward revisions.