Google's CEO Eric Schmidt has made a short visit to Australia and has said that the company has few concerns about the slowdown in the world economy and any recession which may affect the US and other leading economies.

As reported by the Sydney Morning Herald, Schmidt says that Google is well prepared for a recession and, since advertisers favour media where results can be tracked more easily when budgets are tightened, the search engine will continue to capture a greater share of the $1.3 billion online advertising market in Australia.

Google is also expecting to take a greater share of the display advertising market, following the completion of their year-long acquisition of DoubleClick. By combining the techniques from their search technology with the networks and applications provided by DoubleClick, Google is likely to develop new advertising opportunities that will link banner and video advertising with search queries to improve targeting and the effectiveness of online spend.