The UAE leads the Middle East and Africa (MEA) region as the strongest and most valuable country brand in 2019.
The UAE is the only Middle Eastern country to feature in the top 10 strongest countries in the nation brand report by Brand Finance.
The country ranks 6th on the strongest nation brand, behind Singapore , Switzerland, Netherlands, Germany and Luxembourg.
The country’s brand value rose 3 percent to $730 billion in 2019, up from $707 billion. The United States remains on top of the most valuable nation brands, followed by China.
According to the report, the UAE’s nation brand scores highly on the quality and efficiency of its infrastructure and is to be commended for its improved ease of doing business.
The UAE market is also seen as attractive, particularly given its size and healthy level of competition, the report adds.
11 out of the 20 fastest-growing nation brands of 2019 come from the Middle East and Africa region. Ghana leads the pack (up 67 percent) while Egypt ranked 5th (up 50.1 percent).
David Haigh, CEO of Brand Finance commented: “This year’s results show the Middle East nations are persevering through to rival the traditional nation brand powerhouses of the West. In the run up to Expo2020 next October, we see the UAE leading the pack ahead of its GCC neighbours. Saudi Arabia follows closely behind at 21st rank and Qatar is up 35 percent to 37th place.”
Developing vs developed economies
The average year-on-year nation brand value growth among the developing economies stands at 13.9 percent, compared to as little as 0.4 percent growth for the developed economies included in the annual study into the world’s 100 most valuable nation brands, the report said.
“With the Western world seeing a real crisis of leadership on both sides of the Atlantic, the developing world is catching up. Bolder, more agile, increasingly innovative African, Middle Eastern, Asian, and Latin American nation brands are racing ahead at breakneck speed, poised for further growth in the years to come,” Haigh added.
(Writing by Gerard Aoun, Editing by Seban Scaria)
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