As countries compete for investments, talents and new markets for their companies products and services, nation brand matters.
Romania loses two places in the ranking of the most valuable brands in the country, being overtaken by Portugal and Pakistan, according to the latest report by the world’s leading brand valuation consultancy Brand Finance.
Thus, Romania is on the 49th place in the top of the most valuable national brands, compared to the 47th position occupied in 2019.
Romania is overtaken in the ranking by Portugal and Pakistan, both countries with an advance of 5 positions, to 43rd place and 48th place, respectively. Hungary climbed two positions, to 50th place, after two years in which it stagnated.
The top 100 most valuable nation brands in the world have suffered a monumental loss to their brand value because of the COVID-19 pandemic, amounting to US$13.1 trillion, Brand Finance reports.
2020 has put the nations of the world to the test – from the economic impacts of COVID-19 on nations’ GDP forecasts, inflation rates, and general economic uncertainty, to diminished long term prospects. The Brand Finance Nation Brands 2020 report estimates that the total brand value of the top 100 nation brands dropped from US$98.0 trillion in 2019 to US$84.9 trillion in 2020, with almost every nation feeling a significant impact of the health crisis on their respective economies.
The US continues to lead the brand value league, followed by China, Japan and Germany. China continues to close gap behind long-standing leader US, brand values US$18.8 trillion and US$23.7 trillion respectively.
Top 10 most valuable nation brands contract 14% on average. Japan claims 3rd position as it emerges relatively unscathed from pandemic
Ireland is only nation brand in top 20 to record brand value growth, up 11% to US$670 billion, a testament to its resilient economy bolstered by strong exports and consumer spending
Emerging as a Southeast Asian haven for manufacturing, Vietnam defies global trend, brand value up an impressive 29%. In contrast, Argentina is fastest falling nation brand, its brand value dropping 57%, as COVID-19 cases pass 1 million mark.
Brand Finance’s Global Soft Power Index data has been included in Brand Strength Index (BSI) for first time, meaning original research on global as well as domestic perceptions of nation brands is now part of Brand Finance’s evaluation methodology. A nation admired for its stable leadership, Germany is world’s strongest nation brand, BSI score of 84.9 out of 100.
In a global marketplace, nation brand is one of the most important assets of any state, encouraging inward investment, adding value to exports, and attracting tourists and skilled migrants. Brand Finance’s studies provide an all-round view of perceptions and value of nation brands – their presence, reputation, and impact on the world stage.
Understanding the strength and value of nation brands is key for governments and corporates alike to achieve success internationally, allowing to identify strengths and weaknesses and to improve growth strategies going forward.