3 Of The Top 5 Fastest-Growing Nation Brands In The World For 2019 Are In Africa
Every year, Brand Finance — a respected independent brand valuation consultancy — puts together a list of the fastest-growing nation brands.
Brand Finance’s annual ‘Nation Brand list’ highlights countries of the world that have worked themselves into a strong position both economically and politically during the year under review.
Think of it as a list that considers countries as brands, and also gauges which brands have grown the most over a specific period.
The Brand Finance Nation Brands 2019 ranking released on Thursday, October 10th, has African nations among the top 5 fastest-growing nation brands of 2019.
The latest instalment of the report places Ghana, Uganda, and Egypt emerged among the fastest-growing nation brands in the world.
Brand Finance claims the Nation Brands 2019 ranking is computed by determining the performance of Nation across three key pillars; goods and services, investment, and society.
These are divided into sub-pillars and individual metrics. Each metric is scored out of 100 and together contribute to an overall Brand Strength Index.
It is from this methodology that Brand Finance has also declared that 11 out of the 20 fastest-growing nation brands of 2019 come from the Middle East and Africa, with Ghana (up 67 percent), Uganda (up 56 percent), and Egypt (up 50 percent) in the top 5.
As a matter of fact, South Africa even managed to climb a spot higher on the list after seeing its brand value increase by 5 percent to USD 218 Bn this year. This is in spite of the continued political and economic
South Africa inched up one place after recording a 5% increase in brand value to $218 billion, despite the nation facing increased political and economic instability on the domestic front.
Over the past year, developing economies have enjoyed 30 times faster nation brand value growth than their developed counterparts.
Brand Finance reports that the average year-on-year nation brand value growth among the developing economies currently stands at 13.9 percent. For developed economies included in the annual study into the world’s 100 most valuable nation brands, that number is at 0.4 percent.
It can, thus, be surmised that the nation brands of developing economies have been growing at a pace 31.3 times faster than the developed ones on average.
Furthermore, apart from Japan whose nation brand value grew to 26 percent, nation brand values of most developed economies have either contracted or stagnated year on year. Whereas developing countries in Africa, the Middle East, Asia, and Latin America are high in the top 20, with a good number of them even above Japan.
Currently occupying first-place as the world’s strongest nation brand is Singapore which is joined by African nations, Ghana, Uganda, and Egypt, in the top 5.
Featured Image Courtesy: ohyesafrica.com