The country brand is among the three most valuable in Latin America, according to the Nation Brands 2021 index, prepared by the market research firm Brand Finance. Marca Chile also increased its value by 5% compared to last year.
Referring to the region, Laurence Newell, director of Brand Finance America points out that “the pandemic has especially impacted Latin American nations, causing their economies, citizen security and government relations to falter. In this context, together with factors such as the deficient health system , inequality or distrust in government systems, it is not surprising that the perception and trust in these countries are reflected in their national brands”. Newell adds that “Governments and companies should work together to implement strategies to increase the strength and value of their nation brands to attract tourism and business and reactivate the economies depleted by the pandemic.”
The United States, with a value of 24,811 billion dollars, is the most precious brand in the world, followed by China, with 19,851 billion. The group of the 100 most sought-after country brands in the world has registered an increase of 7% in value compared to 2020; In the opinion of the consultant, this is due to the recovery after the Covid-19 pandemic.
In the words of the president and CEO of Brand Finance, David Haigh, “although this is a positive sign, uncertainty remains and the values of national brands have not yet reached pre-pandemic levels. At $90.8 trillion, the value This year’s total brand name from the top 100 country rankings is still 7% lower compared to 2019.”
Returning to the Ibero-American region, “the countries that have lost the most value as a nation brand are Costa Rica (-1%), Honduras (-2%), Paraguay (-5%), Peru (-11%), Guatemala (- 11%) and Uruguay (-13%). In addition, Honduras and Paraguay are the two that lose the most strength, falling by -17% and -14% respectively,” says Brand Finance.
At $90.8 trillion, the total brand value of the top 100 country rankings is still 7% lower than in 2019
Chile drops one position, to 40, although its brand value increases by 5%. Mexico rises from 21 to 20. Also, among the nations that lose value and drop positions we find Brazil, which loses -12% of country brand value and falls from 16 to 21 in the ranking. Colombia drops one position, to 43. Argentina, in position 49, drops four places, although it increases 1% in value. Uruguay loses seven places, to number 74. Bolivia (+9% in country brand value) falls one step, standing at 92 and Honduras, at 97.
One thing that distinguishes the first 12 -that is, from the United States (1) to Spain (12)- is that the amounts of their brands are over 1,000 million dollars. In the Spanish case, despite having fallen from number 11 to 12, the value of its brand grew by 12%.
The order changes in the Global Soft Power Index 2021, another Brand Finance ranking that in this case evaluates the 100 nations with the greatest capacity for influence through attraction or persuasion. The latest edition incorporates a new category, “Covid-19 management”.
Almost all of the Latin American countries that appeared in the previous edition of the index suffer setbacks in the current one. The largest are those of Venezuela, today at 92 (it falls from 55), and Chile: 55 (44). The Chilean withdrawal must be contextualized in political problems and criminal violence, institutional stability is questioned.
The rest are as follows: Brazil, 35 (29); Argentina, 41 (40); Mexico, 44 (37); Colombia, 52 (49), and Peru, 59 (51). In the last publication there were new additions: Uruguay (56); Cuba (58); Panama (60); Paraguay (64); Costa Rica (68); R. Dominican (73); Jamaican (77); Bolivia (85); and Ecuador (91).
Leading the 2021 global soft power index is , which this year overtakes the United States, now in sixth place. It is followed by South Korea, the United Kingdom, Canada and Switzerland. The seventh is France, followed by China, Sweden and Australia.
Spain went from box 16 to 22. Scholars have added the different scores of the categories used in 2020 -removing only the management of Covid-19, which did not exist in the previous estimate- and the result changes completely. Excluding this variable, Spain maintains or improves in all categories except “People and Values”, which registers a decrease of 0.1 points, so its position would go from 16 to 13.
At the head of the world soft power index 2021 is , which surpasses the United States this year
Finally, Brand Finance determines the relative strength of homeland identities by evaluating “brand investment,” “brand value,” and “brand performance.” The methodology used includes the evaluations of the Soft Power index and seeks to know the strongest country brand on the planet.
By this measure, the brand is the most powerful in the world; in the Brand Strength Index (BSI) it accumulates a score of 83.3 out of 100. Switzerland’s BSI rating according to Brand Finance reflects how external perceptions rose slightly after its robust response to Covid-19. It used a mix of mandatory and non-mandatory measures during the pandemic to control the spread of the virus. For example, non-essential businesses had to close, but the government’s stay-at-home order was just a warning: it left the decision up to citizens. Switzerland is followed by Canada, the Netherlands, Singapore, Germany, Australia, Denmark, Norway, Sweden and New Zealand. Spain appears in position 34.
The tangible and intangible attributes associated with the Chile brand have strengthened its country image on the five continents, an issue that is reflected in the signing of free trade agreements with 65 countries that account for 88% of world GDP. This allows Chileans to access more than 5,000 million potential consumers with their offers.
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