View the full Brand Finance Nation Brands 2022 report here
India’s brand value has grown by 19%, or over US$400 billion this year to US$2.6 trillion, according to the latest report by leading brand valuation consultancy Brand Finance. The big increase in the brand value of India correlates with the nation being increasingly seen as a secure and stable place to invest, as evidenced by significant developments in new technologies such as electric vehicle construction and mobile phone manufacturing.
The new research from Brand Finance is not a valuation of aggregated Indian commercial brands, but rather, is a valuation of the brand of the Indian nation itself. As such, the increased world-wide distribution of Indian cultural products is a key factor in improving international familiarity with India and an important driver of the increased valuation.
Brand value of Russia is down nearly US$150 billion year-on-year. Ukraine down US$22 billion due to Russian invasion, but global perceptions of Ukraine up significantly
Following its invasion of Ukraine, Russia has recorded the largest fall in brand value among all the world’s nation brands this year, down US$144 billion or US$1,000 per person compared to 2021. The decision to go to war appears to have undermined Russia’s economic standing, as evidenced by the stark nation brand value decline from US$786 billion last year to US$642 billion in 2022. This reflects the damage to commercial brands associated with Russia, to the country’s ability to access capital, as well as to its potential to influence perceptions across the world.
The widespread economic sanctions imposed on Russia have added to the health, social, and economic disruption caused by the COVID-19 crisis. Prior to the pandemic in 2019, Russia’s nation brand was valued at US$960 billion, but has since fallen by a third – placing it between much smaller Belgium (US$647 billion) and Austria (US$570 billion) at only 24th among the world’s top 100 most valuable brands.
Konrad Jagodzinski, Place Branding Director, Brand Finance, said:
“The Russian invasion has caused a humanitarian crisis, bringing destruction and suffering to the people of Ukraine. Russia is now paying a heavy economic price for its decision to start this war. This is demonstrated by the self-inflicted damage to Russia’s nation brand, which is now worth less than that of Belgium – a country with a population 12 times smaller.”
At the same time, although the war has wrought catastrophic humanitarian and economic devastation on Ukraine, causing its brand value to drop by US$22 billion from US$107 billion to US$85 billion, the nation has successfully defended its independence and won the support of allies internationally, resulting in a significant increase in its brand strength.
In addition to calculating brand value, Brand Finance also determines the relative strength of nation brands through a balanced scorecard of metrics evaluating brand investment, brand perceptions, and brand performance. Ukraine’s brand strength score has gone up by over 5 points year on year from 52.8 to 57.9 out of 100, driven mostly by a 15% increase in brand perceptions. Research carried out by Brand Finance in March 2022 saw Ukraine increase in familiarity, reputation, and influence, in addition to other metrics such as respected leaders, rule of law and human rights, and trustworthy media.
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