Insider Intelligence delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About Insider Intelligence

Our goal at Insider Intelligence is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how Insider Intelligence came to be.
Learn More
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about Insider Intelligence.
Contact Us
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Tune in to eMarketer's daily, weekly, and monthly podcasts.
Learn More

Latin America Ad Spending 2023

Search, Video, and Retail Media Will Fuel Growth as Macroeconomic Conditions Worsen

About This Report
Worsening economic conditions will take their toll on Latin America’s digital ad market this year. Despite gains of 12.7%, digital ad spending will fail to outpace the rate of inflation for the first time since we began tracking the region in 2011. Here are our latest forecasts.
Table of Contents

Report Snapshot

Digital ad spending in Latin America will decelerate in 2023 after two years of record-breaking spend. Ongoing uncertainty—including a slowdown in economic growth and persistently high inflation—will add downward pressure on ad budgets this year. Despite this, the region will remain one of the world’s fastest-growing digital ad markets with double-digit gains through 2027.

Key Question: After two years of rapid acceleration, how will total media, digital, and mobile ad spending fare in Latin America this year?

KEY STAT: Five of the six Latin American countries we track will dominate this year’s top 10 in digital ad spending growth. Inflation will fuel Argentina’s growth figures, but gains elsewhere will be genuine.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Report Snapshot
  2. Five countries in Latin America will make the top 10 list for fastest digital ad spending growth worldwide.
  3. Latin America’s persistently high inflation will mask real growth in digital ad spending.
  4. Digital’s takeover of traditional media marches on in Latin America.
  1. Some traditional formats will endure despite digital’s lead.
  2. Display will receive the lion’s share of digital ad spending.
  3. Video advertising is a force to be reckoned with in Latin America.
  4. Retail media is taking the digital advertising world by storm.
  1. What does this forecast mean for marketers in Latin America?
  2. Sources
  3. Media Gallery


Matteo Ceurvels


Oscar Bruce Jr.
Senior Forecasting Analyst
Iwona Drapala
Senior Forecasting Analyst
Bill Fisher
Principal Analyst, UK
Paola Flores-Marquez
Researcher, Latin America & Spain
Jennifer Merritt
Vice President, Content
Already have a subscription?Sign In

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry

Become a Client