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United Arab Emirates Brand performance in the country is the highest globally in 2022 due to the government’s successful response to the Covid-19 pandemic, which has seen the country open earlier than many other destinations, a report found.
The UAE has also attracted more trade, travel, invest and talent than other national brands, according to The latest report from consultancy Brand Finance.
UAE a ‘positive exception’ as brand performance has yet to recover pre-pandemic levels For most of the countries in the ranking, the report said.
With global engagement declining across the board in key areas such as trade, investment, travel and talent attraction throughout 2021, most brand strength scores remain affected by the pandemic, the report said.
However, the report showed that the UAE bucked the trend, topping the list with a score of 80.5 out of 100.
The UAE economy is expected to grow by 5.4% in 2022 and 4.2% in 2023, after growing by 3.8% in 2021. Central Bank of the United Arab Emirates.
Meanwhile, Emirates NBD on Wednesday Raises UAE economic growth forecast It will grow to 7% in 2022, thanks to higher estimates of energy sector output and “strong growth” in the non-oil sector, putting the country on track for its fastest annual expansion in more than a decade.
The latest revision by Dubai’s largest bank will be the highest since the economy grew 6.9% in 2011, compared with an earlier estimate of 5.7%.
The Brand Finance report measures a country’s brand strength according to three components: investment, perception and performance.
The Brand Performance Pillar considers the performance of a nation brand compared to its competitors, its macroeconomic position, and the four key business areas where a nation brand is most influential: trade, investment, travel and talent.
In these regions, the UAE economy has rebounded strongly, led by tourism, booming real estate industry and rising oil prize.
The country’s foreign trade exceeded AED1 trillion ($272 billion) in the first six months of this year, compared with AED840 billion in the same period before the pandemic.
FDI in UAE has increased Government figures show a 116 percent increase over the past decade, from $9.6 billion in 2012 to $20.7 billion in 2021.
The UAE has defended its position as the strongest (76.7 out of 100) and most valuable ($773 billion) national brand in the Middle East and Africa, thanks to maintaining a high brand performance score and increasing its brand recognition, the report said status.
The data shows that the UAE is close behind, Saudi Arabia is the second most valuable national brand in the region ($770 billion) and Israel is second (73.9 out of 100).
In terms of strength, Canada won the title of the strongest national brand this year, surpassing last year’s champion Switzerland.
The United States, France, the United Kingdom and Japan all returned to the top 10 after a year of declining international awareness due to the pandemic. Likewise, China entered the top 20 for the first time.
In terms of value, the US maintained its position as the world’s most valuable national brand, up 7% to 26.5 tonnes, the report said.
Russia, meanwhile, suffered the biggest drop in brand value in the country, which took a $144 billion hit due to the invasion of Ukraine. Its national brand value fell from $786 billion last year to $642 billion in 2022.
“Konrad Jagodzinski, local brand director at Brand Finance, said Russia is now paying a heavy economic price for its decision to wage the war. Belgium – a country with 12 times less population. “
At the same time, despite the catastrophic humanitarian and economic damage to Ukraine, which saw its brand value fall from $107 billion to $85 billion, the country successfully defended its independence and won the favor of its international allies. support.
As a result, Ukraine’s brand strength score rose by more than five points year-over-year, from 52.8 to 57.9 out of 100, mainly due to a 15% increase in brand awareness.
Research by Brand Finance in March found that Ukraine’s visibility, reputation and influence have increased in addition to other areas such as respected leaders, rule of law and human rights, and trusted media.
Updated: September 28, 2022 at 11:00 pm
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