Brand image has the power to make or break a company, and so is the case with a nation. It offers greater visibility and enhances reputation, which is why a nation with higher brand value than others is considered more prosperous than its counterparts.
A good and positive image will encourage overseas investments, pave the way for skilled migrant labor, retain talent, attract tourists, and add value to its exports. Brand image is thus the national image of a country and represents its economic condition. Other countries look up to the nations which have a greater brand value.
2020 was the year of pandemic Covid-19, which left a strong impact on every industry in this world. The brand value of most nations took a hit, with only a few showing an upward trend. The total loss in the top 10 valuable nation brands worldwide in 2020
The countries that have managed to enter the list of top 10 valuable nation brands worldwide in 2020 are mentioned below-
1. United States
With a brand value of 23.738 trillion US dollars, The United States occupies the 1st spot in the list of top 10 valuable nation brands worldwide in 2020. The superpower has maintained its 1st position, although its brand value has decreased from last year’s 27.751 trillion US dollars.
Recording a high number of Covid-19 cases and deaths, facing racial issues, and dealing with a presidential election that turned highly controversial has impacted the country’s brand nation value.
The United States has been able to hold on to its own despite a downward trend of 14%. Some of the world’s most valuable brands, like Apple, Facebook, Microsoft, Google, Amazon, Walmart, etc., are an integral part of its economy. Despite being a tough year, the United States has proved itself and is still a dominant force and one of the most successful economies in the world arena.
With a brand value of 18.764 trillion US dollars, China occupies the 2nd spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. It has also shown a downward trend of 4% from last year’s 19.485 trillion US dollars.
China was one of the first countries to recover from the pandemic by taking strong and timely preventive measures. Its quick response acted as a safety net and helped it bounce back at a slow but balanced pace. Its economic performance in the latter part of the year has been nothing short of amazing.
China is one of those countries that has a clear goal in their mind and is steadily and slowly inching towards it no matter what. Over the years, it has closed the brand value gap between itself and the number 1 spot, and now only a small one remains that it is inching to close.
With a brand value of 4.261 trillion US dollars, Japan occupies the 3rd spot in terms of brand value in the top 10 valuable nation brands worldwide in 2020. The country has recorded a downward trend of 6% and has seen a loss as its brand value in 2019 was 4.532 trillion US Dollars.
With lower pandemic cases, timely intervention, and quick preventive action Japan has managed to recover and bring its faring economy under control.
With a brand value of 3.813 trillion US dollars, Germany occupies the 4th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country has recorded a loss of 21.5% as its brand value in 2019 was 4.854 trillion US Dollars.
It was stable leadership, high investment opportunities, strong brand equity, and an amazing brand performance that helped Germany become one of the strongest nation brands.
5. United Kingdom
With a brand value of 3.315 trillion US dollars, United Kingdom occupies the 5th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country recorded a downward slope as its brand value in 2019 was 3.850 trillion US Dollars.
The United Kingdom had to face lots of issues in 2020. It is still engaged with the EU for favorable negotiations and trying to survive the devastating impact of Covid-19. This has created havoc with the economy, and it could barely manage to hold on to its position after showing a downward trend of 14%.
With a brand value of 2.699 trillion US dollars, France occupies the 6th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country has recorded a loss as its brand value in 2019 was 3.096 trillion US Dollars.
The year 2020 proved a time of uncertainty for France. Increased scrutiny in handling the pandemic and resulting health, social and economic crises proved a toll on its brand value, which showed a downward trend of 12.8%.
Despite the loss, the government has used its power to implement strategies to amplify its strengths and mitigate its weaknesses. It has addressed its issues with a steady hand to access available opportunities and achieve full potential.
This is why the country is still standing tall and has managed to hold on to its position in the list of top 10 valuable brands worldwide in 2020.
With a brand value of 2.028 trillion US dollars, India occupies the 7th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country recorded a loss as its brand value in 2019 was 2.561trillion US Dollars.
The zeal to deal with the pandemic at all costs resulted in a complete lockdown. The economic impact of this decision was huge. Yes, the country managed to save lives, but it could not stop the downward trend of 20.3% in the brand value.
The general economic uncertainty, inflation rates, and GDP forecasts also acted as a nail in the coffin and could not stop the resulting loss. Despite so much negative impact, India has recovered well, and the future predictions sound much better.
The announcement that a vaccine is on the way and the corrective measures and the reforms that the government has undertaken has turned the tide in its favor and proved a beacon of hope.
With a brand value of 1.9 trillion US dollars, Canada occupies the 8th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country has recorded a loss as its brand value in 2019 was 2.183 trillion US Dollars.
Canada, over the years, has recorded the fastest improvement and growth. This year was also not so different. The country undoubtedly suffered a huge loss but managed to mitigate the long-lasting impact on its economy. Although the nation’s brand value has shown a downward trend of 13%, it can bounce back and recover from its losses.
With a brand value of 1.776 trillion US dollars, Italy occupies the 9th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country has recorded a loss of 15.8% as its brand value in 2019 was 2.110 trillion US Dollars.
Italy was one of the first few countries that had to bear the brunt of the pandemic. The devastation was unimaginable, and the country became helpless under the onslaught. There was a time when it looked as if the whole country would submerge under the flood and never recover.
The pandemic wiped away a massive chunk of brand value. Despite so-much havoc, Italy managed to survive, showed signs of improvement, and started on the path of healing.
10. South Korea
With a brand value of 1.695 trillion US dollars, South Korea occupies the 10th spot in terms of brand value in the list of the top 10 valuable nation brands worldwide in 2020. The country has recorded a loss of 20.6% as its brand value in 2019 was 2.135 trillion US Dollars.
South Korea has inched steadily towards economic stability and managed to navigate its brand value at a better position. This year the case was a bit different. The crisis caused by the pandemic was high, and the country had to step above its values and preferences so that it could begin to walk on the road to recovery.
It is the brand value that helps a nation to maintain its reputation in the overseas market. Moreover, the top valuable nation brands have a better opportunity to make their economy stronger. This is why it has become essential to positively boost overall economic prosperity and create a strong nation brand.