In sensational development, India has jumped two positions to become the seventh most valuable ‘nation brand’ in the world. Quite interestingly, its brand value amplified by a staggering 19% in the last 1 year to $2,562 billion, as per the annual report on the world’s most valuable nation brands which was compiled by Brand Finance.
“The Indian economy was quick to recover after the global financial crisis, with growth now reduced by a recent slowdown in both the manufacturing and construction sectors,” the report added.
With a staggering brand value of $27,715 billion, the United States have retained the title of the world’s most valuable national brand. US is followed by China, which saw a tremendous increase in its brand value by a colossal 40% to $19,486 billion over the past 1 year. Germany ranks third on the list.
On the contrary, by registering an impressive 26% growth, Japan has replaced the UK as the fourth most valuable nation brand. It saw a mere 3% uplift from last year.
David Haigh who is the CEO of Brand Finance, said, “Japan is increasingly becoming a tourism hotspot, with millions visiting every year hoping to soak up the culture and explore all the country has to offer.
With the nation currently hosting the 2019 Rugby World Cup and next summer’s Tokyo 2020 Olympics just around the corner, there is no doubt we will see an even greater uplift in Japan’s brand strength in the future.”
Among other nations that made it to the top 10 include France, Canada, Italy and South Korea. While Canada went down one spot (7th to 8th), Italy dropped 2 positions (8th to 10th). South Korea, on the contrary, inched up 1 place from the previous year.
As per the report, 11 out of the 20 fastest-growing nation brands of 2019 come from the Middle East and Africa.
In addition to that, Turkey has recorded a sensational transformation from its performance in 2018, going from a loss of almost a third of its nation brand value, to this year jumping up 47% to $560 billion.
(With inputs from TOI)