The UAE has been rated the highest globally in brand performance, with a score of 80.5 out of 100, according to the latest report by leading brand valuation consultancy Brand Finance.
“The UAE has attracted a higher volume of trade, tourism, investment, and talent than other nation brands. A successful Covid-19 response, which allowed the UAE to open for business sooner than many other destinations, is one of the key drivers of the UAE’s impressive results this year,” said Brand Finance’s Nation Brands 2022 report.
In addition to brand value, the report also determines the relative strength of nation brands through a scorecard of metrics evaluating brand investment, brand perceptions, and brand performance. Alongside GDP forecasts, nation brand strength is an important driver of nation brand value.
Globally, brand performance is still below pre-pandemic levels as global interactions suffer, with UAE positive is an exception, claiming top marks globally with a score of 80.5/100s
In addition, thanks to maintaining a higher brand performance score and improving its brand perceptions, the UAE maintained its position as the strongest as well as most valuable nation brand in the Middle East and Africa.
The UAE achieved 76.7 out of 100 score and a brand value of $773 billion in 2022. The UAE is followed by Saudi Arabia as the second most valuable in the region ($770 billion) and by Israel as the second strongest (73.9 out of 100).
Globally, Canada claimed the title of this year’s strongest nation brand with a score of 81.8 out of 100, surpassing last year’s leader Switzerland.
The US France, UK, and Japan made a comeback to the top 10 brand strength ranking after the extraordinary one-year decline in their international perceptions caused by the Covid-19 pandemic. China also entered the top 20 for the first time, claiming 15th place, and Italy and Spain return to the top 25.
The values of the world’s nation brands have substantially returned to their pre-pandemic values as economies bounce back from the pandemic.
The US brand value increased seven per cent to $26.5 trillion and it retained its position as the world’s most valuable nation brand. While second-ranked China’s brand value grew eight per cent to $21.5 trillion in 2022. The two countries combined brand value equals that of the remaining 98 nation brands in the top 100.
The total value of the world’s top 100 nation brands stands at $97.2 trillion, up seven per cent year-on-year and only marginally behind the pre-pandemic value of $98 trillion in 2019.
While the combined value of the world’s top 100 nation brands has matched pre-pandemic levels, exactly 50 nation brands have increased in value over this period, while the other 50 remain below the valuation from before the Covid-19 crisis.
The UK is among the nation brands recording the best Covid-19 recovery, having seen the highest absolute brand value gain among all the nation brands bar China – up $265 billion to $4.1 trillion.
While Serbia ($59 billion) and Georgia ($18 billion) are the fastest growing brand, each posting a 24 per cent increase as they attract Russian businesses displaced by international sanctions.
Sub-Saharan Africa is strongly represented among the top 20 fastest-growing nation brands too, led by South Africa and Tanzania as the world’s third and fourth fastest-growing this year.
Following its attack on Ukraine, Russia has recorded the largest fall in brand value, down $144 billion or $1,000 per person compared to 2021. Russia’s nation brand value declined from $786 billion last year to $642 billion in 2022. Prior to the pandemic in 2019, Russia’s nation brand was valued at $960 billion but has since fallen by a third. Ukraine’s brand value dropped by $22 billion from $107 billion to $85 billion.
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