India has ranked as 8th most valuable nation brand as per Brand Finance’s Nation Brands 2017 report.
Highlights of Nation Brands 2017 report:
In 2017, India has slipped down by one spot as compared to 2016 ranking.India’s National Brand Value in 2017 at USD 2.04 trillion too has eroded by nearly one percent from last year’s USD 2.06 trillion.
- Recent slowdown in India’s economic growth has been considered as the main reason behind this drop. Report has outlined that less than impressive track record of implementing reforms has dampened the future outlook for India.
- It also stated that India has been stronger in attributes related to culture and weaker in attributes related to business.
- It has been recommended that Indian Government must introduce reforms to increase job creation, provide fiscal support and boost economic growth.
- US retained its top spot as most valuable nation brand; however meagre growth of 2% percent is putting its dominance at risk. Besides, perception about Donald Trump’s Presidency is not helping ‘Brand America’.
- China occupied the second spot and has been adjudged as fastest growing nation brand in 2017. China’s national brand value grew by 44 per cent in 2017. Penetration of Chinese brands in world markets and the transformed national image of China as an emerging global power are the key factors for rise in its nation brand value.
- Surprisingly, brand value of Iceland has shot up by 83% this year. This surge has been ascribed to hit television show ‘Game of Thrones’ (GOT). Major scenes in GOT have been shot in Iceland and the related buzz brought in a record 1.8 million foreign visitors in 2016 (40% more than 2015).
Top 10 Nation Brands 2017