India moves up in Brand Finance’s Nation Brands ranking

11 Oct,2019

By A Correspondent

 

India has jumped to seventh position in the Brand Finance Nation Brands 2019 ranking, up from ninth last year, after recording a 19 per cent growth in brand value to US$2.6 trillion, according to the latest report by Brand Finance, a leading independent brand valuation consultancy.

 

Other movers in the top 10 include: Japan and UK swapping places; Canada, dropping from 7th to 8th (down 2 per cent to US$2.2 trillion); Italy falling from 8th to 10th (down 5 per cent to US$2.1 trillion); and South Korea, which has inched up one place from 10th to 9th (up 7 per cent to US$2.1 trillion).

 

Looking beyond the top 10, the average year-on-year nation brand value growth among the developing economies stands at 13.9 per cent, compared to as little as 0.4 per cent for the developed economies included in the annual study into the world’s 100 most valuable nation brands. This means that – on average – the nation brands of developing economies have been growing at a pace 31.3 times faster than the developed ones.

 

Said David Haigh, CEO of Brand Finance: “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.”

 

Although catching up, at US$37.8 trillion – the combined nation brand value of the 65 developing economies in the study remains far behind that of the 35 developed economies – which sits at US$60.3 trillion. Topping the ranking again this year, the nation brand value of the United States alone stands at US$27.8 trillion.

 

Claiming second position, China continues to grow at a very healthy rate, recording an impressive 40 per cent increase in brand value to US$19.5 trillion. Building on its solid performance in previous years, China is closing the gap behind long-standing leader the US, which has recorded a brand value growth of just 7 per cent over the past year. The difference in value between the two nation brands has dropped from US$12 trillion last year to just over US$8 trillion in 2019.

 

David Haigh, CEO of Brand Finance, commented: “China is undergoing a meteoric rise on the global stage, rivalling the traditional nation brand powerhouses in the West. Despite economic and political challenges, China’s nation brand value has grown by 40 per cent, consistently outpacing the US and other major economies.”

 

 

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