Europe’s slow rate of growth in 2010 turned into an inflation-adjusted decline of 1.3% in 2011 with reported turnover of $14.1bn.

There was better news on the other side of the Atlantic, with revenue in the North American market up 4.9%, or 1.7%after inflation, to $11.1bn.

North America’s growth rate matched that of Asia Pacific, where revenue was $5.7bn, while Latin America saw turnover rise 7.9%, or 1.3% after inflation, to $1.8bn.

Meanwhile, in the Middle East and Africa turnover was $601m, a decline of 1.3% after inflation.

Esomar director general Finn Raben said: ”We are delighted to see positive growth maintained in our industry in 2011, albeit some markets still struggle to attain an economic equilibrium – most notably within the southern eurozone – but also those who are still suffering from political turmoil. 

“However, emerging markets continue to show their importance within companies regional ‘portfolios’, and it is also promising to see that a couple of new markets are beginning to emerge as growth drivers in certain regions.”

• The full Esomar Global Market Research Report 2012 will be published next week