San Diego—Worldwide spending on paid search, led by the Asia-Pacific region, grew by 33% in the third quarter compared with the year-earlier period, according to a study by search marketing agency Covario Inc.
According to the company's “Global Paid Search Spend Analysis” report, the Americas, led by the U.S. and Canada, had spending growth of 39% year over year. In Europe, where economic recovery has been slow, paid search growth rates for the third quarter increased 10% from the same period last year.
The greatest growth in paid search spending was in the Asia-Pacific region, with year-over-year growth of 45%. This region is “where major opportunities for paid search exist,” according to Covario, although the company expressed caution over signs of a slowdown in China over the last few quarters.