The figures from the first ever pan-European online advertising spend study were made public at the Interact congress on digital marketing.
The study explored results from 13 countries, which together spent €8,003 billion during the year.
In terms of where spending was directed, 31 per cent went on display forms of advertising, 45 per cent on search advertising, 22 per cent on classified and directories and just 16 per cent on email marketing.
The UK had the largest share of Europe's online spending, at €3.1 billion, which is 39 per cent of European spending. It was followed by Germany with 22 per cent, or €1.75 billion. France was in third position, followed by the Netherlands and Italy.
Spain, Denmark, Belgium, Austria, Finland, Greece, Slovenia and Croatia made up the remaining 12 per cent.
Alain Heureux, president of IAB Europe, said: "These figures demonstrate without any doubt the significance of the European online advertising industry."
