Successful handling of Covid-19 and achievements in science and education improved perception about country.
The UAE has been named the world’s 11th strongest nation brand, surpassing big countries like the US, the UK, Japan, France and others as the successful handling of Covid-19 and achievements in science and education — especially the successful Emirates Mars Mission — improved perception about the country worldwide, according to Brand Finance’s Nation Brands 2021 report.
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The UAE has climbed three spots since last year following a 2.5-point increase in its Brand Strength Index (BSI) score to 79.1 out of 100.
“The UAE punches well above its weight in terms of nation brand strength and challenges the Western status quo in the ranking. As the UAE celebrates its Golden Jubilee year, it continues to fly the flag high, promoting the nation’s achievements across the world through ground-breaking initiatives like the Emirates Mars Mission and serving as the gateway to the region by hosting the world for 182 days at Expo 2020,” said Andrew Campbell, managing director, Brand Finance Middle East.
With new coronavirus cases dropping below 100 on Sunday, the UAE has been one of the world’s very few nations that have been winning the battle against the pandemic. The UAE also remains the strongest brand in the Middle East and North Africa region.
Covering opinions of over 75,000 people across more than 100 countries, the study rates 100 countries based on the relative strength of nation brands through a balanced scorecard of metrics evaluating brand investment, brand equity, and brand performance.
“Overseas perceptions of the UAE’s prowess in the education and science pillar are high, and the successful Emirates Mars Mission is clearly a factor. The UAE also stands out for its Covid-19 response, and scores high for the Influence and business and trade pillars, both of which should see a further boost from Expo 2020 inaugurated in Dubai this month,” Brand Finance said.
Globally, Switzerland was ranked the world’s strongest brand, followed by Canada, the Netherlands, Singapore, Germany, Australia, Denmark, Norway, Sweden and New Zealand.
The UK, US, Japan and France fell out of the top 10 strongest nation brands ranking due to the perception of how they handled Covid-19. The UK fell from 2nd to 14th, France from 9th to 16th, Japan from 7th to 15th and the US from 4th to 17th.
UAE’s brand value jumps
Importantly, the UAE also improved its position in the nation brand value ranking, claiming the 17th position, moving up one position, following an impressive 11 per cent increase in nation brand value to $749 billion against $672 billion last year.
“The UAE’s continued increases in brand strength and value are testament to the nation’s strategy of diversifying its economy for long-term growth and solidify its position as the foremost nation brand in the Middle East,” it said.
Globally, the top 100 most valuable nation brands in the world have recorded a seven per cent increase in brand value since 2020, signalling that recovery is underway from the Covid-19 pandemic. The total brand value of the top 100 nations stood at $90.8 trillion, still seven per cent lower when compared to 2019.
The US and China claim the first and second spot in the ranking, respectively. The US has recorded a five per cent brand value increase to $24.8 trillion in a year. Similarly, China saw a six per cent uptick in nation brand value to $19.9 trillion.
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