The document provides an overview of economic and digital media trends in Latin America. It finds that while Latin America's economy grew in 2011 and 2012, growth is expected to slow going forward. Digital advertising is growing rapidly but still a small percentage of total ad spending. Internet penetration and smartphone adoption are lower in Latin America than global averages, but social media engagement is high, particularly in Brazil. Argentina has relatively high internet usage and growing broadband access, but fewer than one quarter of residents own smartphones.