The World: Berlin - IAB Europe celebrates 40 per cent online ad growth

Online advertising in Europe grew by 40 per cent last year to reach EUR11.2 billion, according to new figures from the Interactive Advertising Bureau Europe.

The figure is a EUR4 billion increase on 2006. Two-thirds of the total online budget was spent in the UK, Germany and France. However, some smaller markets showed high growth. They include Greece (91 per cent), Spain (55 per cent) and Slovenia (49 per cent).

Alain Heureux, the IAB Europe president, claimed the target of having ten European countries where online advertising accounted for at least 10 per cent of overall adspend by 2010 was becoming a reality.

"At the end of 2007, Denmark, Germany, The Netherlands, Norway, Poland, Sweden and the UK had all reached this milestone," he said.