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Digital ad spend will grow the fastest in Latin America this year, with Peru leading the pack, according to our forecast. While Argentina and Chile will also rank high by this measure, none of the three countries will crack the global top 10 for total digital ad spend.

Beyond the chart: The US will hold on to the No. 1 spot for digital ad spend at $278.59 billion, nearly double the total of No. 2 China.

Brazil is the only Latin American country that will make it onto the list of the 10 biggest spenders, at $7.72 billion, but marketers should still keep an eye on the region because of its rapid growth.

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Methodology: eMarketer estimates for US dollar ad spending include the impact of the weaker local currency in 2022 for the UK, Eurozone, Argentina, Turkey, and Russia. Estimates are based on the analysis of various elements related to the ad spending market, including macro-level economic conditions, historical trends of the advertising market, estimates from other research firms, and consumer media consumption trends.