Brand Finance Soft Power Index 2024 Digital

The world’s most comprehensive research study
on perceptions of nation brands

Contents
About Brand Finance 4
Get in Touch 4
Acknowledgements 5
Global Soft Power Index 2024 6
Introduction 16
by David Haigh, Chairman & CEO, Brand Finance
Foreword 18
by Dr Paul Temporal, Associate Fellow, SaÏd Business School, University of Oxford
Methodology
How did we survey perceptions of nation brands? 20
Definitions of Soft Power 22
Methodology 26
by Carine Guillou, Research Director, Brand Finance
Survey Country Coverage 28
Executive Summary
What are the highlights from this year’s Index? 30
Executive Summary 32
by Konrad Jagodzinski, Place Branding Director, Brand Finance
Insight & Analysis

What do the experts say? 40
Global Soft Power Awards: Identifying top nation brands across all metrics 42
by Artur Bryzghalov, Place Branding Manager, Brand Finance
Nation Brand Value: Growth has slowed, but not stalled 46
by Dhanushika Shanmuganathan, Place Branding Manager, Brand Finance
The Relationship between Sustainability and Soft Power 50
by Robert Haigh, Strategy & Sustainability Director, Brand Finance
and Sofia Liszka, Strategy & Sustainability Consultant, Brand Finance
Developing an Edge as a Nation Brand 54
by Andrew Neil, Publisher, Editor, Company Chairman & Broadcaster
Why Soft Power Matters to Trade and Investment Promotion 56
by Courtney Fingar, Leading Expert on Foreign Direct Investment & Business Editor
Tourism's Sunny Side: Gaining Soft Power through Regeneration 58
by Florian Kaefer, Founder & Editor, The Place Brand Observer
Appendices
Full Data Table 62
Brand Finance Network 78
3
About Brand Finance Acknowledgements
Brand Finance Plc wishes to express thanks to all organisations and individuals who have contributed
Brand Finance is the world’s leading brand evaluation and strategy
to the completion and promotion of this study:
consultancy.
Bridging the gap between Our experts crafted standards (ISO 10668 Bolt Insight Asbjørn Overgaard, CEO, Copenhagen Capacity
Marketing and Finance and ISO 20671) and our methodology, Brand Dialogue Ltd Clare Dewhirst, CEO, City Nation Place
certified by Austrian Standards, is officially Brand Tasmania Courtney Fingar, Leading Expert on Foreign Direct
Brand Finance was set up in 1996 approved by the Marketing Accountability Investment & Business Editor
Brand Ukraine
with the aim of 'bridging the gap between Standards Board. Cristian Gafin, Sommelier & Export Manager, Castel Mimi
City Nation Place
marketing and finance'. For more than David Downs, CEO, New Zealand Story
25 years, we have helped companies We advise governments Department of Tourism, Royal Government of Bhutan
Dorji Dhradhul, Director General, Department of Tourism,
and organisations of all types to connect on how to boost their nation brands Dovers Flowers Royal Government of Bhutan
their brands to the bottom line. Fairlight Studios Eliza Jean Reid, First Lady of Iceland
Brand Finance has been conducting an annual Foreign Press Association Fareed Zakaria, CNN Worldwide Host, Washington Post
Quantifying the financial Nation Brands study on the world’s most Columnist & Bestselling Author
GREAT Britain and Northern Ireland Campaign
value of brands valuable and strongest nation brands for
Indian Hotels Company Limited Florian Kaefer, Founder, The Place Brand Observer
20 years. It has provided key benchmarks
We put thousands of the world’s for diplomats, tourism boards, trade agencies, International Advertising Association Dr Giannina Warren, Senior Lecturer in Place Branding
and Promotional Culture, Middlesex University London
biggest brands to the test every year. nation brand consultants and managers. Italian Trade Agency
Giovanni Sacchi, Director, Italian Trade Agency
Ranking brands across all sectors Leigh Bureau
and countries, we publish over The Global Soft Power Index expands on that Jennifer Mackinlay, General Manager Europe & Senior
London Speaker Bureau Trade and Investment Commissioner, Austrade
100 reports annually. methodology to provide an all-round view of
Middlesex University London Johanna Jäkälä, Executive Director, Finland Promotion
perceptions of nation brands. Understanding
Services, Business Finland
Unique combination those perceptions is key for national, regional, Moldova Wines & Castel Mimi
The Rt Hon Sir John Major KG CH, Former Prime Minister
of expertise city, and corporate brands to achieve success New Zealand Story
of the United Kingdom
internationally, allowing to identify strengths The Place Brand Observer
Julien Beaupre Ste-Marie, Founding Partner,
Our teams have experience across and weaknesses and to improve growth Presence Switzerland Private Partners & Co
a wide range of disciplines from strategies going forward.
Presidency of the Republic of Türkiye Kate Taylor Tett, Director, GREAT Britain and Northern
marketing and market research, Ireland Campaign
to brand strategy and visual identity, The stronger the nation’s Soft Power, The Print Centre
Lisa Barrett, Director of Strategic Planning, Destination
to tax and accounting. the greater its ability to attract investments, Private Partners & Co Canada
market its products and services, promote Queen Elizabeth II Centre Lisa Botos, Founding Partner, Private Partners & Co
Priding ourselves tourism, and invite talent. to attract Savanta Nur Özkan Erbay, The Coordinator of Türkiye Nation
on technical credibility investments and market its products
The Summit of First Ladies and Gentlemen Branding Office, Directorate of Communications,
and services. Presidency of the Republic of Türkiye
Washington Speaker Bureau
Brand Finance, a chartered accountancy Olena Zelenska, First Lady of Ukraine
firm regulated by the Institute of Chartered XL Displays
Dr Paul Temporal, Associate Fellow, Saïd Business
Accountants in England and Wales, is the Ahmet Burak Dağlıoğlu, President of the Investment School, University of Oxford
first brand valuation consultancy to join the Office, Presidency of the Republic of Türkiye
Puneet Chhatwal, Managing Director & CEO, Indian Hotels
International Valuation Standards Council. Alastair Campbell, Writer, Communicator & Strategist, Company Limited
Former Head of Communications for Tony Blair
Thebe Ikalafeng, Chairman, Brand Africa
Dr Aleš Musar, Spouse of the President of Slovenia
Todd Babiak, CEO, Brand Tasmania
Alexandre Edelmann, Head a.i., Presence Switzerland
Get in Touch
Valentina Harris, Food Writer & Celebrity Chef
Andrew Neil, Publisher, Editor, Company Chairman
& Broadcaster Zöe Fitzgerald, Head of City-Business Engagement, C40
For all enquiries, please contact: linkedin.com/company/brand-finance

Konrad Jagodzinski
Place Branding Director, Brand Finance twitter.com/brandfinance Disclaimer
k.jagodzinski@brandfinance.com Brand Finance has produced this study with an independent and The opinions and data analysis expressed in the report are not to
unbiased analysis. The data derived and opinions produced in be construed as providing investment or business advice. Brand
facebook.com/brandfinance
Artur Bryzghalov this study are based only on survey findings and publicly available Finance does not intend the report to be relied upon for any reason
Place Branding Manager, Brand Finance instagram.com/brand.finance information and certain assumptions that Brand Finance used and excludes all liability to any body, government or organisation.
a.bryzghalov@brandfinance.com where such data was deficient or unclear. Data compiled for Brand Finance reports are provided for the benefit of
Brand Finance accepts no responsibility and will not be liable in the media and the public and are not to be used for any commercial or
softpower@brandfinance.com For more information, please visit our website: the event that the publicly available information relied upon is technical purpose without written permission from Brand Finance.
+44 (0)20 7389 9400 www.brandfinance.com/softpower subsequently found to be inaccurate. © 2024 All rights reserved. Brand Finance Plc.
4 5
Global Soft Power Index 2024 Global Soft Power Index 2024
The ranking of all 193 member states of the United Nations, scored out of 100, according to the results
of a survey of 170,000+ respondents in 100+ markets
10
1
🇺🇸 20
2
🇬🇧 32
5
🇨🇳 40
4
🇯🇵 51
3
🇩🇪 26 0
26
🇳🇿 27 2
30
🇵🇹 28 2
29
🇮🇪 29 1
28
🇮🇳 30 2
32
🇱🇺
UNITED UNITED
CHINA JAPAN GERMANY NEW ZEALAND PORTUGAL IRELAND INDIA LUXEMBOURG
STATES KINGDOM
Score 78.8 +4.0 Score 71.8 +4.5 Score 71.2 +6.2 Score 70.6 +5.4 Score 69.8 +4.0 Score 52.5 +2.7 Score 50.1 +3.5 Score 49.9 +3.2 Score 49.8 +2.8 Score 49.0 +3.7
60
6
🇫🇷 70
7
🇨🇦 80
8
🇨🇭 90
9
🇮🇹 10 0
10
🇦🇪 31 0
31
🇧🇷 32 1
27
🇮🇱 33 0
33
🇵🇱 34 0
34
🇮🇸 35 2
39
🇲🇾
UNITED ARAB
FRANCE CANADA SWITZERLAND ITALY BRAZIL ISRAEL POLAND ICELAND MALAYSIA
EMIRATES
11 2
12
🇪🇸 12 1
11
🇸🇪 13 2
14
🇦🇺 14 2
16
🇳🇱 15 0
15
🇰🇷 36 0
36
🇬🇷 37 1
35
🇰🇼 38 2
42
🇦🇷 39 1
38
🇪🇬 40 2
41
🇹🇭
SPAIN SWEDEN AUSTRALIA NETHERLANDS SOUTH KOREA GREECE KUWAIT ARGENTINA EGYPT THAILAND
16 1
13
🇷🇺 17 0
17
🇳🇴 18 2
19
🇸🇦 19 1
18
🇩🇰 20 0
20
🇧🇪 41 2
44
🇲🇽 42
New
🇲🇨 43 1
40
🇿🇦 44 1
37
🇺🇦 45 0
45
🇮🇩
RUSSIA NORWAY SAUDI ARABIA DENMARK BELGIUM MEXICO MONACO SOUTH AFRICA UKRAINE INDONESIA
Score 57.7 +2.9 Score 56.8 +4.2 Score 56.0 +4.7 Score 55.5 +3.7 Score 55.2 +4.0 Score 44.0 +3.0 Score 43.8 - Score 43.7 +1.2 Score 43.0 -1.3 Score 42.6 +1.7
21 2
24
🇶🇦 22 1
21
🇸🇬 23 2
25
🇦🇹 24 1
22
🇫🇮 25 1
23
🇹🇷 46 1
43
🇨🇿 47 0
47
🇭🇷 48 0
48
🇭🇺 49 1
46
🇴🇲 50 2
55
🇲🇦
© Brand Finance Plc 2024

CZECH
QATAR SINGAPORE AUSTRIA FINLAND TÜRKIYE CROATIA HUNGARY OMAN MOROCCO
REPUBLIC
Score 54.5 +4.6 Score 54.4 +3.4 Score 54.2 +4.3 Score 53.9 +3.2 Score 53.7 +3.3 Score 42.3 +0.3 Score 41.8 +1.1 Score 41.4 +0.9 Score 40.6 -0.1 Score 40.6 +1.4
* All data points have been rounded to the first decimal place.
6
51 1
50
🇧🇭 52 2
61
🇵🇭 53 2
69
🇻🇳 54 1
49
🇬🇪 55 2
59
🇲🇻 76
New
🇰🇵 77 2
83
🇹🇳 78 1
75
🇵🇾 79 2
93
🇳🇬 80 1
79
🇰🇿
BAHRAIN PHILIPPINES VIETNAM GEORGIA MALDIVES NORTH KOREA TUNISIA PARAGUAY NIGERIA KAZAKHSTAN
Score 40.0 +0.0 Score 39.8 +1.1 Score 39.6 +1.8 Score 39.3 -0.7 Score 39.2 +0.3 Score 36.7 - Score 36.6 +0.2 Score 36.3 -0.5 Score 36.3 +0.9 Score 35.9 -0.6
56 1
52
🇸🇮 57 1
51
🇪🇪 58 2
64
🇷🇴 59 1
54
🇨🇱 60 2
62
🇸🇰 81 2
84
🇵🇰 82
New
🇱🇮 83 1
81
🇩🇴 84 1
57
🇦🇿 85 2
92
🇬🇭
DOMINICAN
SLOVENIA ESTONIA ROMANIA CHILE SLOVAKIA PAKISTAN LIECHTENSTEIN AZERBAIJAN GHANA
REPUBLIC
Score 39.0 -0.6 Score 38.9 -1.1 Score 38.8 +0.4 Score 38.8 -0.7 Score 38.8 +0.1 Score 35.6 -0.8 Score 35.5 - Score 35.5 -0.9 Score 35.3 -3.8 Score 35.1 -0.4
61 1
60
🇱🇹 62 2
77
🇮🇷 63 1
53
🇯🇴 64 1
56
🇧🇬 65 2
68
🇨🇾 86 2
90
🇪🇨 87
New
🇧🇾 88
New
🇧🇸 89 2
106
🇻🇪 90 2
99
🇯🇲
LITHUANIA IRAN JORDAN BULGARIA CYPRUS ECUADOR BELARUS BAHAMAS VENEZUELA JAMAICA
Score 38.6 -0.3 Score 38.5 +1.8 Score 38.5 -1.0 Score 38.1 -1.1 Score 38.0 +0.2 Score 35.0 -0.7 Score 35.0 - Score 34.9 - Score 34.9 +0.2 Score 34.8 -0.3
66 1
63
🇺🇾 67 2
70
🇵🇦 68 2
71
🇲🇹 69 1
58
🇨🇴 70 2
72
🇨🇷 91 1
89
🇱🇧 92 2
108
🇦🇱 93 2
98
🇹🇿 94 2
103
🇸🇳 95 2
100
🇰🇪
URUGUAY PANAMA MALTA COLOMBIA COSTA RICA LEBANON ALBANIA TANZANIA SENEGAL KENYA
Score 37.9 -0.5 Score 37.9 +0.2 Score 37.9 +0.4 Score 37.6 -1.4 Score 37.5 +0.2 Score 34.8 -1.0 Score 34.7 +0.3 Score 34.7 -0.4 Score 34.6 -0.3 Score 34.6 -0.4
71 1
65
🇱🇻 72 2
76
73 2
86
🇩🇿 74 1
66
🇨🇺 75 1
73
🇷🇸 96 2
97
🇧🇩 97 1
67
🇲🇺 98 2
115
🇱🇰 99 2
116
🇮🇶 100 1
82

LATVIA PERU ALGERIA CUBA SERBIA BANGLADESH MAURITIUS SRI LANKA IRAQ BOLIVIA
Score 37.2 -1.2 Score 37.0 +0.2 Score 36.8 +0.8 Score 36.8 -1.5 Score 36.7 -0.2 Score 34.6 -0.5 Score 34.3 -3.7 Score 34.3 +0.5 Score 34.2 +0.5 Score 34.2 -2.2
8 9
101 0
101
🇺🇿 102 1
78
🇲🇪 103 1
102
🇲🇬 104 1
85
🇷🇼 105 1
91
🇳🇵 126 1
120
🇬🇹 127 1
121
🇿🇼 128
New
🇦🇩 129
New
🇸🇾 130
New
🇩🇲
UZBEKISTAN MONTENEGRO MADAGASCAR RWANDA NEPAL GUATEMALA ZIMBABWE ANDORRA SYRIA DOMINICA
Score 34.1 -0.9 Score 34.0 -2.5 Score 33.9 -1.0 Score 33.9 -2.3 Score 33.8 -1.8 Score 31.5 -1.8 Score 31.5 -1.2 Score 31.4 - Score 31.2 - Score 31.1 -
106
New
🇦🇲 107
New
🇧🇳 108 1
87
🇨🇮 109
New
🇲🇰 110 1
109
🇨🇲 131
New
🇱🇷 132 1
114
🇲🇿 133
New
🇳🇦 134 1
117
🇱🇦 135
New
🇫🇯
BRUNEI CÔTE NORTH
ARMENIA CAMEROON LIBERIA MOZAMBIQUE NAMIBIA LAOS FIJI
DARUSSALAM D'IVOIRE MACEDONIA
Score 33.5 - Score 33.3 - Score 33.2 -2.7 Score 33.2 - Score 33.2 -1.2 Score 30.8 - Score 30.8 -3.1 Score 30.5 - Score 30.5 -3.1 Score 30.5 -
111 1
94
🇧🇦 112 1
105
🇰🇭 113 1
112
🇿🇲 114 1
107
🇨🇩 115 1
110
🇪🇹 136 1
113
🇲🇲 137 1
80
🇧🇧 138 1
88
🇹🇲 139
New
🇱🇾 140
New
🇲🇱
BOSNIA AND DEMOCRATIC
CAMBODIA ZAMBIA REPUBLIC ETHIOPIA MYANMAR BARBADOS TURKMENISTAN LIBYA MALI
HERZEGOVINA OF THE CONGO
Score 33.1 -2.2 Score 32.8 -2.0 Score 32.8 -1.1 Score 32.8 -1.6 Score 32.7 -1.6 Score 30.3 -3.6 Score 30.2 -6.2 Score 30.2 -5.6 Score 30.1 - Score 30.0 -
116 1
111
🇦🇴 117
New
🇸🇻 118
New
🇲🇩 119
New
🇨🇫 120 1
104
🇭🇳 141
New
🇧🇯 142
New
🇬🇳 143
New
🇳🇪 144 1
74
🇸🇨 145
New
🇹🇯
CENTRAL
ANGOLA EL SALVADOR MOLDOVA AFRICAN HONDURAS BENIN GUINEA NIGER SEYCHELLES TAJIKISTAN
REPUBLIC
Score 32.7 -1.5 Score 32.6 - Score 32.4 - Score 32.4 - Score 32.2 -2.6 Score 29.9 - Score 29.9 - Score 29.8 - Score 29.5 -7.4 Score 29.4 -
121 1
119
🇺🇬 122
New
🇲🇳 123
New
🇧🇹 124 1
95
🇸🇩 125
New
🇸🇲 146
New
🇨🇬 147 1
96
🇧🇼 148
New
🇰🇬 149
New
🇾🇪 150
New
🇨🇻

UGANDA MONGOLIA BHUTAN SUDAN SAN MARINO CONGO BOTSWANA KYRGYZSTAN YEMEN CAPE VERDE
Score 32.0 -1.4 Score 32.0 - Score 31.7 - Score 31.5 -3.8 Score 31.5 - Score 29.2 - Score 29.0 -6.2 Score 29.0 - Score 28.8 - Score 28.6 -
10 11
151
New
🇸🇸 152
New
🇦🇫 153
New
🇲🇷 154
118
🇹🇹 155
New
🇬🇾 176
New
🇹🇩 177
New
🇹🇴 178
New
🇦🇬 179
New
🇸🇴 180
New
🇱🇸
TRINIDAD ANTIGUA AND
SOUTH SUDAN AFGHANISTAN MAURITANIA GUYANA CHAD TONGA SOMALIA LESOTHO
AND TOBAGO BARBUDA
Score 28.6 - Score 28.6 - Score 28.5 - Score 28.1 -5.4 Score 28.0 - Score 25.7 - Score 25.5 - Score 25.5 - Score 25.2 - Score 25.0 -
156
New
🇵🇬 157
New
🇹🇬 158
New
🇬🇲 159
New
🇬🇶 160
New
🇲🇼 181
New
🇸🇷 182
New
🇲🇭 183
New
🇵🇼 184
New
🇪🇷 185
New
🇷🇼
PAPUA EQUATORIAL MARSHALL
TOGO GAMBIA MALAWI SURINAME PALAU ERITREA ESWATINI
NEW GUINEA GUINEA ISLANDS
Score 27.9 - Score 27.7 - Score 27.7 - Score 27.6 - Score 27.5 - Score 24.8 - Score 24.6 - Score 24.3 - Score 24.2 - Score 24.1 -
161
New
🇧🇫 162
New
🇳🇮 163
New
🇬🇼 164
New
🇰🇲 165
New
🇸🇧 186
New
🇹🇻 187
New
🇻🇨 188
New
🇫🇲 189
New
🇩🇯 190
New
🇰🇳
SOLOMON SAINT VINCENT SAINT KITTS
BURKINA FASO NICARAGUA GUINEA-BISSAU COMOROS TUVALU AND THE MICRONESIA DJIBOUTI
ISLANDS GRENADINES AND NEVIS
Score 27.5 - Score 27.3 - Score 27.1 - Score 27.0 - Score 26.9 - Score 23.9 - Score 23.8 - Score 23.7 - Score 23.7 - Score 23.3 -
166
New
🇧🇿 167
New
🇬🇩 168
New
🇬🇦 169
New
🇸🇱 170
New
🇼🇸 191
New
🇻🇺 192
New
🇳🇷 193
New
🇰🇮

SIERRA
BELIZE GRENADA GABON SAMOA VANUATU NAURU KIRIBATI
LEONE
Score 26.9 - Score 26.9 - Score 26.8 - Score 26.8 - Score 26.7 - Score 23.2 - Score 22.6 - Score 21.9 -
171
New
🇭🇹 172
New
🇱🇨 173
New
🇧🇮 174
New
🇸🇹 175
New
🇹🇱
SÃO TOMÉ
HAITI SAINT LUCIA BURUNDI TIMOR-LESTE
AND PRÍNCIPE
Score 26.6 - Score 26.3 - Score 26.2 - Score 26.1 - Score 25.7 -
12 13
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Introduction
David Haigh
Chairman and CEO,
Brand Finance
When countries and political groups increasingly The 5th iteration of the Global Soft Power Index
wield Hard Power, a natural and common response reveals intriguing insights into the dynamics of
should be for global leaders to turn to Soft Power Soft Power in 2024. The growing significance of
to restore stability and cooperation. Business & Trade attributes amidst economic
challenges and political instability underscores the
However, we are living in uncommon times. The role of economic strength in shaping a nation's Soft
shifts in the current global landscape are deeper Power profile. The continued dominance of the US
than simple conflicts across borders, and it is and UK in the Index, retaining 1st and 2nd position
evident that we are experiencing fundamental, for the third year running, reaffirms their respective
systemic challenges to traditional diplomacy. abilities to influence through a combination of
Multinational organisations are being weakened familiarity, reputation, and clout.
and the rules-based system established after World
War II is eroding, with some countries neglecting This year, China records a rapid rise in Soft Power,
established diplomatic frameworks, opting for overtaking Germany to claim third position, as the
unilateral approaches over collaborative efforts. European powerhouse stagnates in the post-Merkel
era. As large regional powers like India, Brazil, and
When established norms are rejected, it can make South Africa strive to overcome challenges and
Soft Power feel powerless – after all, who has time realise their Soft Power potential, Middle Eastern
for influence and persuasion while the rule book nations emerge, rising in the ranking by leveraging
burns? strategic initiatives and major events to boost their
nation brand perceptions.
The truth is that uncommon times are when Soft
Power has the most potential to bridge differences As we delve deeper into the findings of the Global
and build accord. Populations subject to the use of Soft Power Index 2024 and our new research on
force are eager for peace and open to Soft Power investment, trade, talent, and tourism attraction, we
as a pathway toward reconciliation. The ongoing are presented with a unique opportunity to explore
conflict between Russia and Ukraine is a timely the potential of Soft Power in shaping a more
example: as tensions escalate and diplomatic peaceful and prosperous world.
channels are strained, Soft Power provides an
escape for nations that feel hopelessly trapped in In the face of mounting geopolitical tensions,
a struggle. When military might and geopolitical let us not forget the transformative potential
manoeuvring fail to reach a consensus, Soft of Soft Power. The real power lies in dialogue
Power is the answer, given its singular strength and cooperation, rather than confrontation and
to de-escalate conflict and forge lasting peace coercion, to build and maintain a more stable and
agreements. harmonious world for generations to come.
16
Foreword
Dr Paul Temporal
Associate Fellow,
Saïd Business School,
University of Oxford
The political scientist Joseph Nye, who reflecting attention to environmental concerns
popularised the term ‘Soft Power’, argued in his are valuable at a corporate and national level.
book The Future of Power (2011) that a nation’s Additionally, action on climate is a major
Soft Power is derived from three principal political issue and global challenge that requires
resources: ‘its culture (in places where it is commitment and collaboration across the world
attractive to others), its political values (when to achieve. And the nations that can convince
it lives up to them at home and abroad), and others to cooperate and sign up to global targets
its foreign policies (when others see them as and action are those which have and are prepared
legitimate and having moral authority).’ These to wield Soft Power.
resources can make a nation more attractive to
others and co-opt – rather than coerce – them This year’s survey also sees an increase in the
into aligning with their interests. database with the inclusion of 72 new nations,
taking the total to 193, and ensuring that all
Since the launch of the Global Soft Power Index in member states of the United Nations are ranked
2020 we have seen a more complex and dynamic for the first time. The total number of people
picture emerge, particularly in the intersection interviewed is over 170,000.
of Soft Power and nation branding. While have single all-encompassing nation brand plans and high-profile tourism and sporting campaigns
nation branding efforts are typically focused on As we have seen over the past five years, Soft either, due to their size, state of development, developed under Vision 2030 in Saudi Arabia, they
improving performance of a country in attracting, Power is remarkably ‘sticky’: despite a number of and historic political and economic importance, are becoming increasingly influential. They are
for example, investment and tourists, metrics tumultuous events in individual countries, the top they naturally cover more of the pillars with their seizing Soft Power opportunities to define national
more usually associated with Soft Power are also of the table remains fundamentally stable. This activities than others. They are adept at assessing competitive advantages and change perceptions.
being shown to be influential in these areas. is likely to be because of entrenched perceptions, nation brand sector activities in terms of specific
and residual reputation and influence. These are performance, but have not really focused on how With each iteration of the Index, we can see
As a result, the overall theme of the Index report properties of developed, larger, countries, although powerful Soft Power strategies can also be strong how more aware of the drivers of Soft Power
and Summit this year is precisely the role of Soft rankings can and do change – as we can see by drivers of performance, particularly brand strength many nations have become, and how Soft
Power in inviting tomorrow’s investment, trade, tracking Germany and China, for example. and value. Power delivers on brand strength and value.
talent, and tourism, and thus its influence on the Perception studies also remind us that they can
global economy. Additional research in this year’s Many mid-ranked countries also seem to be In this, all countries could do well to take a leaf become entrenched – sticky. It takes deliberate
survey asked explicitly about the recommendation holding their positions roughly year on year. out of the book of countries in the Middle East, and sustained comprehensive brand strategies,
by respondents of different nation brands as However, while historic reputations may play three of which – United Arab Emirates, Saudi not on just a sector basis, to change them.
places to invest in, trade with, work in, study in, a part in this, many are missing opportunities Arabia, and Qatar – are fast increasing their Soft Unlike in the private sector, there is still room
and visit. to increase their Soft Power by not developing Power through solid, sustainable strategies. for improvement in nation brand management
comprehensive nation brand strategies and These countries have long been powerful despite structures to discover and realise the full potential
Sustainability is emerging as a particularly focusing only on a limited number of sectoral their size for economic reasons. However, with of perceptions.
important issue in driving attractiveness of based pillars, such as tourism and trade. While deliberate strategies such as The Emirates hosting
nations in these spaces. Brand attributes it is true that few developed countries appear to of EXPO 2020 and COP28, Qatar’s FIFA world cup,
18 19
How did
we survey
perceptions of
nation brands?
• Defining Soft Power
• Consulting the experts
• The 8 Soft Power Pillars
01
• Constructing the Index
• Survey Coverage
• Conducting over 170,000

interviews across more than
100 markets
Methodology
20 21
Definitions of Soft Power
What is Soft Power? We have undertaken annual rounds
of expert consultations over the last five
World leaders, global corporate brands, years, conducting qualitative interviews with
civil society, entrepreneurs, academics, over 50 practitioners and researchers of Soft
journalists and thinkers are endlessly Power worldwide and across several categories:
attempting to make sense of the concept academics, think-tank analysts, journalists,
of power. Is it a dominant force exerted diplomats, nation brand managers, consultants,
upon smaller entities? Is it the art of coaxing business leaders, artists and sportspeople.
another around to your way of thinking?
The purpose of the expert consultation
When we look at nations around the world and perception audit was to establish how
and their leadership through the lens of power, Soft Power is viewed by its key stakeholders.
there are a variety of terms that can be applied
to government policies and overall national Following this Soft Power deep dive, we
influence: Hard Power, Soft Power, sticky were able to build our own definition of Soft
power, old power, and new power. Power, carve out our 8 Soft Power Pillars and
then form the building blocks of Soft Power
The concept of Soft Power was first and our ultimate Index structure.
introduced by Joseph Nye in 1990 who
argued that there is an alternative method Definitions, definitions
of foreign policy for states to win the support
of others; rather than the traditional Hard Power To date, the concept of Soft Power has
method, which involves using military undergone a critical analysis by a wide range
and economic means as the primary of academics, journalists, think tanks,
method of achieving its goals. politicians, diplomats, and consultancies.
By virtue of that, there are differing definitions
Power is not simply the “the ability or right of Soft Power and it is easy to fall into the
to control people or things”, but crucially it trap of comparing apples with oranges.
is also the possession of influence over others We started our analysis by clearly defining
and the “ability to act or produce an effect”. and conceptualising Soft Power to avoid
any confusion and to ensure relevance
Ultimately, Soft Power is the ability to convert of our study to a range of stakeholders.
states rather than coerce them, or simply
“getting others to want what you want”,
which is achieved by proving your shared
values and norms.
Soft Power - a nation's
ability to influence the
This is because states, like humans,
are more likely to trust those with whom preferences and behaviours
they share common ideals.
of various actors in the
It is with this in mind that we have carved
our in-house definition of Soft Power.
international arena (states,
corporations, communities,
Expert consultation
publics etc.) through
We started with a deep dive review of existing
Soft Power surveys, indices, and frameworks, attraction or persuasion
followed by a series of expert consultation
interviews with Soft Power practitioners rather than coercion.
and researchers.
22 23
Definitions of Soft Power
Definitions of Soft Power © Brand Finance Plc 2024
Country? Enhanced measurement

Nation? of sustainability perceptions
State?
The past few years were like no other, putting
Part of the confusion comes from using the nations of the world to the test as they
Familiarity Reputation Influence Recommendation different terms for the actors that exercise fought to negotiate the fallout and devasting
Soft Power on the international stage. We repercussions of the COVID-19 pandemic. No
have decided to refer to ‘nations’ rather than nation was free from the turmoil.
‘countries’ (geographical term) or ‘states’
(political term). ‘Nation’ encompasses both Therefore, at the time, we included a special
the government and the population metric in the Global Soft Power Index measuring
of a country. the perceptions of the COVID-19 Response of
nations, which as the pandemic has largely
Hard or Soft Power? passed, has now been discontinued.
Culture Education International Business As part of our analysis, we conceptualised As the climate emergency takes centre stage as
& Heritage & Science Relations & Trade Hard Power alongside Soft Power. It is the next global challenge, we have enhanced our
impossible to talk about one without touching measurement of environmental sustainability in
on the other. Although building up Hard Power the Sustainable Future pillar.
capabilities is inevitable, nations should pay
more attention to Soft Power and make it Perceptions of nation brands
their preferred tool of foreign policy.
In measuring Soft Power, we survey perceptions
The times of nation brands by the global general public
they are a-changin’ across 35 attributes grouped under the 8
pillars. These nation brand attributes drive the
Most research on Soft Power has centred Reputation and Influence of nations, which are
Governance Media & Sustainable People
Communication Future & Values on developed nations and almost equated key to developing Soft Power, which in turn
Soft Power with liberal values. Such allows to change preferences and behaviour of
understanding of Soft Power leads international stakeholders to bring economic
to a very narrow account of what benefits. The third KPI measured in the Index –
constitutes ‘attraction’, especially Familiarity – enables stakeholders to form their
in times marked by change. perceptions in the first place.
Global Soft Power Index Weightings © Brand Finance Plc 2024 With our study being driven by an analysis
of Soft Power of a broad range of nations,
and conducting the survey in all corners of Soft Power
the world, we aimed to account for cultural
differences and differing views.
Soft Power rests

● Familiarity on several pillars
Influence
Nation
Brand Reputation
●
Attributes
Soft Power is derived and exercised in
Reputation
a variety of ways. We have divided the building
● Influence
blocks of Soft Power into 8 key pillars: Business
& Trade, International Relations, Education &
Science, Culture & Heritage, Governance, Media 2
● 8 Soft Power Pillars & Communication, Sustainable Future, and
People & Values.
Familiarity
24 25
Methodology
Methodology
reputation, and impact on the world stage. via these new questions has not been included can be applied even to very challenging
These include: in the calculation of the Index score. markets like Iraq and Venezuela.
+ Familiarity: nation brands which
We are however using them to recognise nation Quotas were applied by age, gender, and
people know, and have mental availability
of, have greater Soft Power brands for their work in building attractiveness (in panel markets) region – in line with the
across investment, trade, talent, and tourism online population profiles of each country.
+ Influence: the degree to which through our Global Soft Power Awards.
a nation is seen to have influence Note that no fieldwork was conducted in
in the respondent’s country as Nation brands Russia for the 2023 and 2024 Global Soft Power
well as on the world stage
ranked in the Index Index surveys, as in our view a reliable survey
+ Reputation: is this country of Russian public opinion on these topics
Carine Guillou deemed to have a strong and 193 nation brands were included in cannot be undertaken.
Research Director, positive reputation globally? the research programme, including 72 new
Brand Finance brands in 2024. Key nations whose global Instead the results from 2022 were used
+ Perceptions across the core 8
Soft Power Pillars (Business & Trade, reputations are of greatest interest to Index in our model for all measures in 2023 and
International Relations, Education & users and subscribers (e.g. China, US, Brazil) for Familiarity, Reputation, and Influence only
How the Index is constructed Science, Culture & Heritage, Governance, were prioritised as ‘Tier 1’ (see map). These in 2024.
Media & Communication, Sustainable 45 Tier 1 countries have larger sample sizes
The Global Soft Power Index is based on the Future, and People & Values) rating them. Regional and global total scores were
most comprehensive and wide-ranging research calculated by combining country results
programme of its kind, with responses gathered The weightings given to each measure Fieldwork and sampling using the following weights:
from over 170,000 people across more than 100 within the Index were based on statistical
countries, surveying perceptions of 193 nation drivers analysis assessing the degree to An online survey was conducted between + 50% – the ‘one country one vote’
brands from around the world. which pillar performance impacts Reputation 18th September and 8th November 2023 rule, accounting for the sovereignty
and differences between the multitude
In the first two waves in 2020 and 2021, and Influence. This was determined through among a sample of 172,133 adults aged
of nations around the world
two surveys were conducted: regression analysis on respondent-level 18-75, across 101 countries. Our sample is
data from all countries. representative of the online population of each + 50% – the size of the online population
+ General Public: a survey country. In developing markets with relatively aged 18-75, with in effect the opinions of
of public opinion covering residents This year, we have introduced new low internet access (below 85% across all age the residents of large countries, e.g. China,
of over 100 countries representing all
Recommendation survey questions groups), this skews the sample somewhat receiving a much greater weight than
continents and regions of the world
that measure willingness of respondents towards younger people with higher education, those of smaller countries, e.g. Estonia
+ Specialist Audiences: the views to recommend countries as a place to invest in, income, and connectivity – but we deem
of global decision-makers and influencers buy products and services from, work and study this acceptable, as it is these groups in the Questionnaire
– representing categories identified in, as well as visit. This is an efficient way to population who are most likely to be affected
as likely targets and conduits for evaluate the potential of nation brands across by Soft Power and have some familiarity Each respondent was shown a random sub-set
Soft Power: business leaders, market the key areas of investment, trade, talent, with other nations. of nation brands – drawn from the 193 included
analysts, politicians, academics, think- and tourism. in the Index – and asked about their Familiarity.
tanks and NGOs, and journalists Fieldwork Method
Understanding to what extent a country For countries about which the respondent
With both surveys yielding similar results, would be recommended complements the Two fieldwork approaches were employed. had some knowledge, we obtained a detailed
it was decided to focus on the General Global Soft Power Index metrics for a more Both have been shown to provide good assessment of Reputation, Influence, and
Public sample going forward from 2022, granular diagnosis on these aspects and a representations of public opinion. perceptions across 35 nation brand attributes
enabling us to increase the sample size comprehensive statistical drivers analysis In more developed markets, established representing the core 8 Soft Power Pillars.
significantly, and in particular the robustness allows to identify nation brand attributes online research panels were used. Panel
of results within individual fieldwork markets. that are key in developing that potential selection and management was conducted Across each market sample, the 193 nation
Thus, the 2024 Index is based solely and how that differs between different by Savanta. brands were randomised to ensure that all
on perceptions among the General Public. markets worldwide. nations were assessed globally. Surveys were
Where online panel coverage is weak, conducted in the major languages of each
The Global Soft Power Index incorporates The introduction of these new we partnered with Bolt Insight, adopting country, totaling 54 languages globally.
a broad range of measures, which in Recommendation metrics has not affected a relatively new and cutting-edge approach
combination provide a balanced and year-on-year comparability of the Global Soft based on buying advertising space via digital
holistic assessment of nations’ presence, Power Index given that the data captured marketing exchanges. Such an approach
26 27
Survey Europe
Albania Cyprus Iceland Montenegro Slovakia
Asia
Afghanistan Kyrgyzstan Singapore
Coverage
Andorra Czech Republic Ireland Netherlands Slovenia Bangladesh Laos South Korea
Armenia Denmark Italy North Macedonia Spain Bhutan Malaysia Sri Lanka
Austria Estonia Latvia Norway Sweden Brunei Darussalam Maldives Tajikistan
Azerbaijan Finland Liechtenstein Poland Switzerland Cambodia Mongolia Thailand
 Nation Brand and Market of Research Belarus France Lithuania Portugal Turkey China Myanmar Timor-Leste
 Nation Brand Only - No Fieldwork Belgium

Bosnia and Herzegovina
Georgia
Germany
Luxembourg
Malta
Romania
Russia
Ukraine
United Kingdom
India
Indonesia
Nepal
North Korea
Turkmenistan
Uzbekistan
Bulgaria Greece Moldova San Marino Japan Pakistan Vietnam
Croatia Hungary Monaco Serbia Kazakhstan Philippines
Over 170,000 interviews
were conducted across the
101 countries surveyed. This
extensive fieldwork coverage
included most of the major
countries among the 193 nations
included for assessment in the
Global Soft Power Index study,
with the exception of countries
which are either very small (e.g.
Luxembourg, Iceland) or where
online surveys are challenging
(e.g. Cuba, Iran).
The sample size in each country

was a minimum of 770 in all
markets, and above 1000 except Oceania
in the case of: Australia
Fiji
Country No. Kiribati
Trinidad and Tobago 900 Marshall Islands
Croatia 834 Micronesia
Colombia 832 Nauru
Estonia 813 New Zealand
Chile 812 Palau
Mozambique 807 Papua New Guinea
Slovakia 805
Samoa
Czech Republic 804
Solomon Islands
Nepal 802 North America
Tonga
Cambodia 800
Canada Tuvalu
Rwanda 800
United States Vanuatu
Tanzania 800
Democratic Republic of the Congo 800
Serbia 799
Latvia 796
Hungary 795
Ecuador 792
Romania 790 Latin America
Lithuania 789 & Caribbean
Bulgaria 788
Antigua and Barbuda Guyana
Slovenia 784
Argentina Haiti
Bolivia 784
Bahamas Honduras
Belgium 780
Portugal 779 Barbados Jamaica
Uruguay 778 Belize Mexico
Middle East Sub-Saharan
Paraguay 778 Bolivia Nicaragua
& North Africa Africa
Peru 777 Brazil Panama
Chile Paraguay Algeria Morocco Angola Congo Gambia Mauritania Sierra Leone
Colombia Peru Bahrain Oman Benin Côte d'Ivoire Ghana Mauritius Somalia
In key markets much larger
Costa Rica Saint Kitts and Nevis Egypt Qatar Botswana Democratic Republic Guinea Mozambique South Africa
samples were obtained – above

Iran Saudi Arabia Burkina Faso of the Congo Guinea-Bissau Namibia South Sudan
Cuba Saint Lucia
3,000 in each of: India (6,149), Iraq Syria Burundi Djibouti Kenya Niger Sudan
Dominica Saint Vincent
United Kingdom (5,956), United Dominican Republic and the Grenadines Israel Tunisia Cape Verde Equatorial Guinea Lesotho Nigeria Tanzania
States (5,791), France (4,983), Ecuador Suriname Jordan United Arab Emirates Cameroon Eritrea Liberia Rwanda Togo
Japan (4,922), China (4,903), El Salvador Trinidad and Tobago Kuwait Yemen Central African Republic Eswatini Madagascar São Tomé and Príncipe Uganda
Germany (4,894), Kenya (3,470), Grenada Uruguay Lebanon Chad Ethiopia Malawi Senegal Zambia
Libya Comoros Gabon Mali Seychelles Zimbabwe
Nigeria (3,145). Guatemala Venezuela
28 29
What are
the highlights
from this year’s
Index?
• The USA and UK are ranked
top nation brands yet again
• China is the fastest-growing this year,
02
rising in the ranking from 5th to 3rd
• The United Arab Emirates, Saudi

Arabia, Qatar, and Türkiye see greatest
improvement since inception of the
Global Soft Power Index in 2020
• Military conflict harms Soft Power,

with Russia, Ukraine, and Israel
falling down the ranking
Executive
• The 5th annual global survey from
Brand Finance ranks all 193 member
states of the United Nations for
the first time
Summary
30 31
Executive Summary
Executive Summary
for the public debate, have The Global Soft Power Index, Global Soft Power Index Top 20 © Brand Finance Plc 2024
🇺🇸 🇪🇸
also raised critical questions now in its fifth iteration with
about disinformation and the 2024 edition, examines
interference in news feeds. the perceptions of all 193 10 United States 11 2 Spain
As individuals become member states of the United
more cautious about their Nations for the first time, 78.8 74.8 +4.0 59.2 55.1 +4.3
🇬🇧 🇸🇪
information consumption, the realising the ambition we set
interplay between scepticism ourselves when the study
and the surge in content started. It is based on the most 20 United Kingdom 12 1 Sweden
accessibility provoke new comprehensive and wide-
questions for the global ranging fieldwork of its kind, 71.8 67.3 +4.5 59.0 54.9 +3.9
🇨🇳 🇦🇺
Konrad Jagodzinski community. with responses gathered from
Place Branding Director, over 170,000 people across
Brand Finance These developments set more than 100 markets. 32 China 13 2 Australia
the contextual backdrop as
A world in flux Brand Finance conducted the The Soft Power 71.2 65.8 +6.2 58.6 54.8 +4.0
🇯🇵 🇳🇱
research for this latest report. Super Power
In 2023, Soft Power faced
substantial challenges “It's the The United States leads 40 Japan 14 2 Netherlands
marked by events like the economy, stupid” the rankings with an all-time
Israeli–Palestinian conflict, highest Global Soft Power 70.6 65.2 +5.4 58.2 54.6 +4.5
🇩🇪 🇰🇷
the escalation of the Ukrainian- In this global Soft Power Index score of 78.8, an
Russian war, tensions between landscape, Business & Trade increase from 74.8 in 2023.
the United States and China, perceptions are experiencing It earns the top spot for 51 Germany 15 0 South Korea
global warming and natural a growing significance amid Familiarity and Influence,
disasters. These events not economic challenges and four out of the eight Soft 69.8 65.0 +4.0 58.0 53.9 +4.1
🇫🇷 🇷🇺
only shaped international political instability. ‘Strong Power pillars, and nine out
perceptions but also and stable economy’ emerged of the 35 nation brand
tested nations’ Soft as the leading driver of both attributes, including ‘leader 60 France 16 1 Russia
Power capabilities. Reputation and Influence, with in science’, ‘influential in
‘products and brands the world arts and entertainment’, 67.3 62.4 +4.9 57.7 53.7 +2.9
🇨🇦 🇳🇴
The economic landscape loves’ and ‘easy to do business ‘internationally admired
witnessed significant in and with’ also counting leaders’, ‘helpful to countries
transformations too, with among the top 5 nation brand in need’, and ‘supports global 70 Canada 17 0 Norway
high inflation and slow growth attributes in terms of their efforts to counter climate
on one end and the launch importance for shaping the change’. 64.4 60.7 +3.7 56.8 52.6 +4.2
🇨🇭 🇸🇦
of new AI initiatives on the Soft Power of nations
other. AI is now shaping the this year. However, despite these
trajectory of industries and strengths, internal security 80 Switzerland 18 2 Saudi Arabia
influences business dynamics This trend explains the challenges around gun
on a global scale. It may also continued dominance of the violence and police brutality 62.9 58.5 +4.4 56.0 51.8 +4.7
🇮🇹 🇩🇰
fundamentally change how world’s largest economies like as well as involvement in
nations are perceived as they the USA and China as well as international conflicts seem
strategically navigate the smaller developed economies to be undermining some of its 90 Italy 19 1 Denmark
opportunities and challenges like Switzerland and the United nation brand perceptions, as
presented by this new Arab Emirates at the top of evidenced by continued rank 62.0 56.6 +5.4 55.5 51.3 +3.7
🇦🇪 🇧🇪
technology. the ranking. Dominant nation declines on ‘great place to
brands are recording faster visit’, ‘good relations with other
The continued growth Soft Power growth (average countries’, ‘safe and secure’, 10 0 United Arab
Emirates 20 0 Belgium
of social media and the +3.1 points in the top 50) than and ‘friendly’ where the USA
democratisation of news the rest of the ranking (average has dropped a further
creation while stimulating -1.3 for those ranked 51-193). 9 places to 112th.
59.7 55.2 +4.5 55.2 51.2 +4.0
32
33
Executive Summary
The upcoming presidential This year, the UK has also and ‘fun,’ ranking 122nd
election in November 2024 overcome a Soft Power risk in both categories. This
will be momentous in terms from temporary instability signals potential areas
of future direction for the in late 2022, resulting from for improvement in the
USA and how the nation is tumultuous government realm of cultural perceptions
perceived globally. Donald changes and the passing of and social appeal, as these
Trump’s confrontational Queen Elizabeth II. This year, attributes, though not key
politics – both domestically the UK ranks 7th in ‘strong and drivers of Influence, are
and internationally – caused a stable economy’ compared to crucial for building
serious erosion of the nation’s last year’s 12th and improves Reputation—an essential
Soft Power in his final year in on ‘politically stable and well component of Soft Power.
office, reflected in the United governed’ up to 12th from last
States temporarily losing its year’s 16th. Like the USA, as Replaced by China and
1st rank in the 2021 Index, the UK is set for a general overtaken by Japan too,
since recovered under the election this year, it will be Germany fell to 5th position in
Biden administration. interesting to see how the the Global Soft Power Index,
results impact its Soft Power. after earning top ranking in
Britannia 2021, and 3rd place in both
back on course The Year 2022 and 2023.
of the Dragon
The United Kingdom Germany has experienced
defends 2nd position with China solidifies its global stagnation and in many
a Global Soft Power Index standing, replacing Germany cases erosion in perceptions
score of 71.8, improving at the 3rd position in the across the board this year,
on 67.3 in the previous year. Global Soft Power Index, with a substantial drop of 14
having achieved the most positions in 'good relations
Maintaining its standing in substantial improvement with other countries' compared
the top 3 for Familiarity and in the overall Soft Power to 2023, along with decreases
Influence, and this year also score this year (+6.2 points) in 'helpful to countries in
achieving an all-time high among all nation brands need' and measures of
of 4th rank in Reputation, the in the ranking. The marked trustworthiness.
United Kingdom consistently progress across nearly all
demonstrates a round profile. pillars reflects China’s Nevertheless, Germany
rising global reach. achieved the top rank in
It also continues to dominate Governance and, despite
in ‘strong educational system’ China’s particularly some score declines,
and ‘respects law and human strong and improving remains among the leaders
rights’ and ascends to the perceptions across key in the pursuit of a Sustainable
top in ‘easy to communicate drivers of Soft Power in the Future.
with’ and ‘trustworthy media’ Business & Trade (3rd) and
attributes, proving an edge in Education & Science (3rd) An intentional
specific perceptions around pillars are the main factors approach strengthens
its universities, constitution, behind the scale of the Soft Power
and journalism. For more than nation’s rise this year.
a decade, the UK's strengths While China makes significant
have been successfully Despite these achievements, growth in Soft Power this year,
promoted by the GREAT there is a need to urgently the greatest improvements
Britain and Northern Ireland focus on enhancing in the ranking over the past
Campaign – one of the world’s likeability, as China scores five iterations of the Global
longest running and most disproportionately low on Soft Power Index have been
impactful nation branding People & Values attributes recorded by the United Arab
and marketing initiatives. such as ‘friendly’ Emirates (+13.8 points
34 35
Executive Summary
and 8 ranks to 10th), Saudi 5 ranks since 2020. Both However, its more active
Arabia (+14.1 and 8 ranks nations effectively balance position on the international
to 18th), Qatar (+16.0 and 10 tourism attraction and stage, evident by its hosting
ranks to 21st), and Türkiye economic strength, and of the G20 Summit, economic
(+14.3 and 5 ranks to 25th). successfully rebounded progress, investment in space,
from COVID-19 over the past and sports initiatives like the
All four are characterised few years. Italy in particular, launch of the Indian Women’s
by conscious efforts to grow secures 2nd position in ‘great Premier League in cricket,
their Soft Power through place to visit’ and 3rd in signals a shift towards a less
nation branding projects, ‘products and brands the Western-dominated world
diplomatic initiatives, and world loves’, demonstrating order.
by hosting major events. that positive perceptions in
culture and business can This is reflected in the
The Gulf nations especially, go hand in hand. enhancement of some
are seeing enhanced Influence Soft Power scores, gaining
and Reputation as well as Regional leaders 34 positions in the Media
strengthening International & Communication pillar and
Relations and Business & Large regional powers India, improving on a number
Trade credentials, with the Brazil, and South Africa are of key attributes in
United Arab Emirates receiving struggling with the challenge Education & Science.
10/10 marks and top position of fully realising their Soft
globally on the key ‘strong Power potential. While all Brazil, the highest-ranked
and stable economy’ three exhibit high levels of Latin American nation brand,
attribute this year. Familiarity and Influence, stagnates at 31st place.
particularly within their home The country faced political
The United Arab Emirates regions, they face difficulties instability in January-February
has successfully staged the in building a truly global 2023, suggesting a potential
high-profile EXPO 2020 and Reputation. All three are often focus on political polarisation
COP28. Qatar’s improvement scored high for their Culture that may have impacted its
follows the 2022 football & Heritage yet encounter Soft Power standing.
world cup, which FIFA limitations in crucial metrics
president Gianni Infantino such as Business & Trade. Despite recent
called the best in history. achievements such as
The observed increase in Soft the Rugby World Cup victory
Similarly, Saudi Arabia is Power scores this year has and hosting the 2023 BRICS
seeing stronger perceptions not translated into significant summit, South Africa,
following significant advancements in rankings for leading in the Sub-Saharan
investments in tourism and India, Brazil, and South Africa. Africa ranking, reaches
football which have earned While strengthening economic an all-time lowest
global media attention. Türkiye perceptions would be the spot at 43rd.
has during the same time quickest way to enhance their
officially changed its name and Soft Power, these nations However, a significant
took on the role of a mediator might also benefit from 20-position rebound in
leveraging Soft Power to focusing their efforts on Reputation signals a
facilitate diplomatic dialogue International Relations and transformative 2023,
from Eastern Europe to the Culture & Heritage, drawing marked by the G21
Middle East. inspiration from Türkiye's integration of the African
successful strategy. Union and important
The top 5s for score and rank diplomatic interventions
improvement are rounded off India, despite fast economic in both the Russia/Ukraine
by Italy gaining a +12.7 score growth, has seen its rank drop and Israel/Palestine
increase and Spain climbing one spot to 29th. conflicts.
36 37
Executive Summary
Hard Power Despite initial widespread and Kiribati (193rd) closing

undermines Soft international support after the ranking - each limited
Power terrorist attacks by Hamas, in influence by population,
the Global Soft Power Index geography, and economic
Countries engaged in armed survey results show that the factors.
conflict experience declines decision to retaliate with full
in their Soft Power this year. force has negatively impacted
Down 3 ranks, Russia reaches Israel's global perceptions.
an unprecedented low at 16th
place, primarily due to negative Its Reputation saw a decrease
perceptions surrounding its of -0.3, causing a drop of 18
aggression against Ukraine. ranks to 79th, with a negative
knock-on effect on the nation
Despite this, it records a minor brand more broadly, as Israel’s
Reputation recovery as the scores decline in 34 out of 35
war is becoming increasingly attributes.
normalised, marked by a
change of +0.3 and a 30-rank All 193 United
advancement to 75th place. Nations member
states ranked
Striving to maintain
international support, Ukraine This year’s inclusion
experiences a 7-rank decline to of 72 new entrants marks
44th place, although remaining a significant development
higher in the ranking than pre- of the Brand Finance research
invasion. as all 193 member states
of the United Nations are
Despite retaining significant ranked for the first time.
Familiarity gained from
its heroic defence against Monaco enters the
Russian aggression since Global Soft Power Index
2022, Ukraine loses 4 ranks strongly, claiming 42nd
in Influence due to slower position. Ranked among
improvement compared to the top 20 in attributes like
other nations. ‘appealing lifestyle’, ‘politically
stable and well-governed’,
This calls for the development and ‘safe and secure’, Monaco
of innovative routes to punches much above its tiny
achieve strategic goals in both weight. While ranking lower
Hard Power and Soft Power on Familiarity (73rd) and
battlefields. Positioned at 76th understandably Influence
in Reputation, Ukraine's spot (104th), Monaco’s Reputation
just below Russia reveals the (28th) places it within the
deep-seated differences in global top 30, making this
global perspectives on the Soft Power debut hopeful
conflict. for next year’s rankings.
Israel’s Soft Power has Most other new entrants

declined significantly, find themselves towards
down 5 ranks to an all-time the bottom of the table, with
low of 32nd following its small Pacific island nations
invasion of Gaza. Vanuatu (191st), Nauru (192nd)
38 39
What do
the experts say?
• Global Soft Power Awards: Identifying
top nation brands across all metrics
by Artur Bryzghalov, Place Branding
Manager, Brand Finance
• Nation Brand Value:

Growth has slowed, but not stalled
by Dhanushika Shanmuganathan,
Place Branding Manager, Brand Finance
• The Relationship between

Sustainability and Soft Power
03
by Robert Haigh, Strategy &
Sustainability Director, Brand Finance
and Sofia Liszka, Strategy &
Sustainability Consultant, Brand Finance
• Developing an Edge as a Nation Brand

by Andrew Neil, Publisher, Editor,
Company Chairman & Broadcaster
• Why Soft Power Matters

to Trade and Investment Promotion
Insight by Courtney Fingar, Leading Expert on

Foreign Direct Investment & Business Editor
& Analysis
• Tourism's Sunny Side: Gaining Soft
Power through Regeneration
by Florian Kaefer, Founder & Editor,
The Place Brand Observer
40 41
Soft Power Medal Winners © Brand Finance Plc 2024
Global Soft Power Awards: Identifying Pillars

🇺🇸 🇬🇧 🇨🇳
Metrics
Global Soft Power Index
top nation brands across all metrics 🇨🇳

🇺🇸
🇺🇸
🇫🇷
🇯🇵
🇬🇧
Awareness
Familiarity
🇨🇭 🇨🇦 🇯🇵 Reputation
‘Recommendation to visit’, the Business 🇺🇸 🇨🇳 🇬🇧 Influence
& Trade pillar is identified as the most 🇨🇭 🇨🇦 🇳🇴 Net Positive/Negative Impact
important driver. For the tourism industry,
🇺🇸 🇯🇵 🇨🇳 Business & Trade
perhaps unsurprisingly, the Culture & Heritage
pillar is the most significant. Interestingly, 🇦🇪 🇩🇪 🇨🇭 Strong and stable economy
Sustainable Future emerges as a key driver 🇯🇵 🇺🇸 🇮🇹 Products and brands the world loves
across all the dimensions too, evidencing 🇨🇳 🇨🇦 🇺🇸 Easy to do business in and with
the growing importance of engaging and 🇨🇳 🇯🇵 🇦🇪 Future growth potential
communicating on environmental issues.
🇺🇸 🇬🇧 🇩🇪 International Relations
Switzerland has secured the title of 🇺🇸 🇬🇧 🇩🇪 Influential in diplomatic circles

Artur Bryzghalov the ‘best country to work in’ as well as 🇺🇸 🇨🇦 🇩🇪 Helpful to countries in need
Place Branding Manager, the ‘best country to invest in’. Across these 🇨🇭 🇨🇦 🇪🇸 Good relations with other countries
Brand Finance two metrics, being perceived to have strong 🇺🇸 🇯🇵 🇨🇳 Education & Science
Business & Trade is the most important factor
for the survey’s respondents to recommend
🇯🇵 🇨🇳 🇺🇸 Leader in technology and innovation
In this year’s Global Soft Power Index a country. Unsurprisingly, Switzerland records 🇺🇸 🇯🇵 🇨🇳 Leader in science
survey, we have included a new measurement: a stellar performance across this pillar, scoring 🇬🇧 🇨🇦 🇩🇪 Strong educational system
Recommendation, for the first time. particularly well for having a ‘strong and stable 🇺🇸 🇨🇳 🇷🇺 Invests in space exploration
This measurement offers a new approach economy’, for which it gains 10/10 marks. 🇮🇹 🇫🇷 🇺🇸 Culture & Heritage
to evaluating Soft Power and assesses the
willingness of respondents to recommend The United Kingdom earns the title of the
🇺🇸 🇫🇷 🇬🇧 Influential in arts and entertainment
a country as a place to ‘invest in’, ‘buy ‘best country to study in’, underscoring 🇮🇹 🇫🇷 🇲🇽 Food the world loves
products and services from’, ‘work’ its academic excellence and welcoming 🇨🇭 🇮🇹 🇲🇻 Great place to visit
and ‘study in’, as well as ‘visit’. atmosphere for international students. Once 🇧🇷 🇦🇷 🇺🇸 Leader in sports
again, the Business & Trade pillar is deemed 🇨🇭 🇨🇦 🇺🇸 Appealing lifestyle
Assessing the extent to which respondents
recommend a country provides valuable insights
most important for someone to ‘recommend
a country to study in’, and the UK consistently
🇪🇬 🇬🇷 🇨🇳 Rich heritage
into a nation brand’s potential across the crucial scores among the top 10 globally across the 🇩🇪 🇬🇧 🇨🇭 Governance
areas of investment, trade, talent, and tourism. attributes in this pillar. Perceptions across the 🇺🇸 🇬🇧 🇩🇪 Internationally admired leaders
Additionally, understanding variations in Education & Science pillar, naturally, play a 🇨🇭 🇨🇦 🇩🇪 Politically stable and well-governed
perceptions across target regions and markets key role too. Perhaps most tellingly, the UK
🇯🇵 🇨🇭 🇳🇴 High ethical standards and low corruption
as well as identifying the key drivers behind
respondents’ recommendations is essential
also comes out first globally for having a
‘strong educational system’. 🇨🇭 🇳🇴 🇯🇵 Safe and secure
to developing this potential and ultimately 🇬🇧 🇨🇦 🇨🇭 Respects law and human rights
boosting the economy. Italy earns the title of the ‘best country 🇺🇸 🇬🇧 🇫🇷 Media & Communication
to visit’ globally, corroborated by its rich 🇺🇸 🇬🇧 🇷🇺 Affairs I follow closely
The debut
Global Soft Power Awards
cultural heritage, renowned cuisine,
🇬🇧 🇨🇦 🇪🇸 Easy to communicate with
and picturesque landscapes. The only
Recommendation measurement in which 🇺🇸 🇬🇧 🇫🇷 Influential media
Building on the findings from the new Culture & Heritage is the most important 🇬🇧 🇳🇴 🇨🇭 Trustworthy media
Recommendation measurement, we are thrilled driver – Italy tops the leaderboard globally 🇯🇵 🇩🇪 🇳🇴 Sustainable Future
to introduce the inaugural Global Soft Power in that pillar. Notably, Italy is perceived 🇯🇵 🇩🇪 🇳🇴 Invests in green energy and technologies
Awards. These accolades celebrate nations
that have excelled in each Recommendation
as having the best food in the world.
🇯🇵 🇩🇪 🇸🇪 Sustainable cities and transport
category, shedding light on their potential to Germany's appeal as the preferred place 🇳🇴 🇨🇭 🇸🇪 Acts to protect the environment
attract globally. of origin for products and services is bolstered 🇺🇸 🇩🇪 🇨🇦 Supports global efforts to counter climate change
by its strong economy and reputation for high- 🇨🇦 🇨🇭 🇯🇵 People & Values
From analysing the survey data, quality manufacturing. Germany sits 4th in the 🇨🇭 🇯🇵 🇨🇦 Trustworthy
we uncover valuable insights into the primary
drivers behind Recommendation. Across all
Business & Trade pillar, scoring 10/10 marks
for the ‘strong and stable economy’ metric,
🇨🇦 🇯🇵 🇦🇪 Generous
Recommendation dimensions, aside from the just like Switzerland. 🇮🇹 🇪🇸 🇬🇷 Friendly

🇧🇷 🇮🇹 🇪🇸 Fun
42 🇨🇦 🇳🇱 🇸🇪 Tolerant and inclusive 43
Global Soft Power Awards: Identifying top nation brands across all metrics Global Soft Power Awards: Identifying top nation brands across all metrics
Recommendation © Brand Finance Plc 2024 United States is the Soft Power The Soft Power Medal Table 2024
Olympic champion once again
Metrics The United States claims the top spot Total
🇨🇭 🇨🇦 🇬🇧
once again in this year's Soft Power Olympics,
Recommendation earning the title of the most decorated Soft
1. 🇺🇸 11 2 4 17
🇨🇭 🇨🇦 🇩🇪 Recommendation to invest in
Power country. With an impressive 11 golds
🇩🇪 🇨🇭 🇯🇵 Recommendation to buy products and services from

and a total of 17 medals, it surpasses
Switzerland (10 golds, 18 medals), 2. 🇨🇭 10 5 3 18
and Japan (5 golds, 13 medals).
🇨🇭 🇨🇦 🇩🇪 Recommendation to work in
The US ranks 1st for Familiarity and Influence
3. 🇯🇵 5 4 4 13
🇬🇧 🇨🇭 🇨🇦 Recommendation to study in as well as nine out of the 35 nation brand

attributes, including ‘leader in science’,
4. 🇬🇧 5 4 3 12
🇮🇹 🇨🇭 🇪🇸 Recommendation to visit ‘influential in arts and entertainment’,

‘internationally admired leaders’, ‘helpful
5. 🇨🇳 3 3 2 8
It is noteworthy that each of the winners +Oceania:

to countries in need’, and ‘supports global
efforts to counter climate change’. 6. 🇮🇹 3 2 1 6
🇨🇦
globally hails from Europe, highlighting the Australia dominates all
region's dominance in terms of Soft Power Recommendation categories Norway's 7. 2 12 3 17
influence. for the region. green commitment
Regional Insights: +Sub-Saharan Africa: Ranked 9th in the medal table, Norway
8. 🇧🇷 2 - - 2
+Asia:
South Africa stands out as
the preferred destination in
shines brightly in its dedication to
environmental sustainability. Leading
9. 🇩🇪 1 4 7 12
Japan leads in most categories, apart

from the ‘recommendation to visit’ metric,
all categories apart from
tourism, led by Madagascar.
globally in categories such as ‘acts
to protect the environment’ and ranking 10. 🇳🇴 1 2 3 6
where the Maldives take prime position. in the top 5 for ‘invests in green energy
and technologies’ and ‘supports global 11. 🇦🇪 1 - 2 3
+Latin America & Caribbean: The Soft Power Medal Table efforts to counter climate change’,
Brazil leads in most categories including
‘recommendation to ‘work in’, ‘invest Delving deeper into the results, Brand Finance
Norway's green initiatives underscore
its Soft Power influence.
12. 🇪🇬 1 - - 1
in’, and ‘buy products and services’

from. Argentina is recognised for its
identifies the top-performing nations in each
metric across the survey as ‘medallists’, Additionally, it performs commendably in
13. 🇫🇷 - 3 1 4
appeal as a place to ‘study in’, and the

Bahamas are seen as the favoured
honouring them with gold, silver, and
bronze medals based on their rankings.
the Governance pillar, being perceived as
‘politically stable and well-governed’ while
14. 🇪🇸 - 1 4 5
tourist destination across the region.

We tally the results for all underlying
upholding ‘rule of law and human rights’.
15. 🇬🇷 - 1 1 2
+Middle East & North Africa: measures, including five key performance Exceptional performances
The United Arab Emirates emerges as the indicators of Awareness, Familiarity, beyond expectations 16. 🇦🇷 - 1 - 1
most recommended country in the whole Reputation, Influence, and Net Positive/
region, in all five metrics. Its perceptions
across the key drivers in the Business &
Negative Impact, five Recommendation
measures, and 35 nation brand attributes,
In a showcase of Soft Power prowess
beyond the usual suspects, Egypt secures
17. 🇳🇱 - 1 - 1
Trade pillar give the nation an advantage

over peers – most notably, it receives
for a total of 45 categories. the gold for its ‘rich heritage’, while Brazil
emerges as a ‘leader in sports' and earns
18. 🇸🇪 - - 3 3
10/10 marks and top rank in the key ‘strong We exclude the top performers across recognition for its perception as a
🇷🇺

and stable economy’ attribute globally. the overall Index ranking, in average ‘fun’ culture. 19. - - 2 2
+North America:
Recommendation, and across the eight
top-level Soft Power Pillars, which are all Another Latin American nation, Mexico 20. 🇲🇻 - - 1 1
Canada surpasses derived from the 45 underlying metrics, clinches the bronze for its globally beloved
the United States across all
Recommendation categories.
to avoid double counting the
winners in our medal table.
cuisine, following closely behind culinary
giants Italy and France.
21. 🇲🇽 - - 1 1
44 45
Nation Brand Value: Growth has slowed, not stalled
Nation Brand Value:

Growth has slowed, but not stalled
Top 10 Nation Brand Value 2024 The nation recorded the strongest recovery
🇺🇸
amongst major economies with its 2023 GDP
(Gross Domestic Product) growth exceeding the
10 United States pre-pandemic path, enabling the United States
to record the fastest Nation Brand value growth
$32,271 bn +6.5% within the top 10.
🇨🇳
However, this rising momentum was not felt
20 China everywhere. Notably subdued growth was
recorded in the Euro area, namely Germany, France,
$19,960 bn -13.5% and Italy, reflecting weaker consumer sentiment
🇩🇪
Dhanushika and the lingering effects of high energy prices.
Shanmuganathan
Place Branding Manager, 30 Germany Additionally, China faces growing headwinds
Brand Finance from its real estate crisis and weakening market
$4,985 bn -1.8% confidence. These developments, together with
🇯🇵
slowing industrial production, business investment,
A resilient global economy as and exports have resulted in fading economic
risks to global growth are being 42 Japan growth for the nation, leading to a decline in
balanced China’s Nation Brand Value by 14% this year.
$4,406 bn -1.0%
🇬🇧
The global economy continues to recover slowly The United Kingdom records the largest decline
from the blows of the pandemic, Russia’s invasion in Nation Brand Value within the top 10, down
of Ukraine, and the cost-of-living crisis. Despite 51 United Kingdom by 15%. Growth in the UK was projected to decline
the disruption in energy and food markets caused in the International Monetary Fund’s October
by the war, and the unprecedented tightening of $4,037 bn -15.8% 2023 World Economic Outlook and by the British
🇫🇷
global monetary conditions to combat decades- Chambers of Commerce. Prolonged high-interest
high inflation, the global economy has slowed, rates, trade barriers, particularly with the EU,
but not stalled. 60 France and limits on consumer spending are all seen
to feed into a low-growth climate.
As the world’s economies navigate the $3,522 bn -4.0%
🇮🇳
uncertainties surrounding rising inflation, Mexico benefits as the US brings
elevated global and geopolitical shocks, manufacturing closer to home
understanding a Nation Brand Value and 70 India
Strength is more important than ever. Here Mexico increases in Nation Brand Value by
are the results of the 20th annual iteration $2,944 bn +0.7% 29% this year, emerging as the fastest-growing
🇨🇦
of Brand Finance’s ranking of the world’s most Nation Brand in 2024. The foundation of Mexico’s
valuable and strongest Nation Brands. growth are the carryover effects of stronger than
80 Canada expected domestic demand. The nation was
Top 10 Nation Brands record one of the first countries to be described as an
declines $2,671 bn +1.9% emerging market when the term was initially
🇮🇹
coined, and since then has experienced many
The economic superpowers continue to dominate classic market disruptions including a series of
the Nation Brand Value ranking, accounting for 90 Italy debt and currency crises.
73% of the total worth of all the world’s Nation
Brands. However, the 2024 ranking records Nevertheless, the country is now enjoying a new
$2,326 bn -0.8%
🇰🇷
a decline in the top 10 by 3%. growth period, and its stock market has been
one of the world’s best performers over the past
The United States upholds its status as the few years. The primary driver of Mexico’s growth
dominant global player, preserving its top position
10 0 South Korea
has been the ‘near-shoring’ of US manufacturing,
since Brand Finance’s first Nation Brand Value and as of 2023, Mexico became the US’s largest
$1,937 bn -6.9%
ranking publication in 2005. trading partner, ahead of China and Canada.
46 47
Nation Brand Value: Growth has slowed, not stalled Nation Brand Value: Growth has slowed, not stalled
The Western Balkans country, Albania records Following Russia’s invasion of Ukraine Top 10 Nation Brand Strength 2024 The United Arab Emirates moves up within
🇨🇦
growth of 28%, marginally behind Mexico in in 2022, Brand Finance’s Nation Brand Value the top 10 too, rising to 8th position this year.
relative terms although much more modest in study recorded a decline in Ukraine’s Nation Brand The Gulf nation is benefitting from improved
absolute value. The Albanian economy has shown Value by more than 20%. Almost two years after 10 Canada perceptions across Business & Trade
remarkable resilience driven by a strong rebound this invasion commenced, Ukraine’s economic and Sustainable Future, following its hosting
in tourism. Albania’s economic prospects are activity is expected to rebound based on the 84.8 +1.1 of EXPO 2020 and COP 28. The Emirates has
🇨🇭
expected to remain positive in the upcoming European Commission’s projections. made impressive progress in developing its
years ensured by resilient private consumption, Nation Brand Strength and Value in recent
with notable strength in construction activity. Receipt of international financial assistance, 20 Switzerland years and for the first time receives 10/10
increased business activity, stable operations marks and top position on the key ‘strong
Ethiopia is the fastest-growing African Nation of its energy production and the sea corridor, 84.6 +1.5 and stable economy’ attribute.
🇬🇧
Brand this year. It was one the fastest-growing as well as the return of refugees have been key
economies in the world last year, recording driving factors behind Ukraine’s positive outlook. Singapore moves into the top 10 on
a 6.1% GDP growth in 2023. The nation is However, it remains subject to the exceptionally 32 United Kingdom Nation Brand Strength. The highly prosperous
forecast to grow at a rate of 6.2% in 2024, which high war-related uncertainty. city-state serves as the business hub of
surpasses not only the anticipated global growth 83.7 +1.8 Southeast Asia and is renowned for its
🇩🇰
rate of 2.9%, but also outpaces the expected Canada remains world’s world-class education, healthcare, transport,
growth rate for the African continent at 4%. strongest Nation Brand and low crime levels. These factors, paired
Investment in infrastructure and value added 42 Denmark with the nation’s unwavering political stability
sectors of manufacturing and processing, such Canada has retained its title of world’s strongest and commitment to its economic strategy,
as textiles and agricultural products, have been Canada has retained its title as the world’s 82.9 +3.7 firmly position Singapore among the world’s
🇩🇪
key drivers behind the nation’s growth. strongest Nation Brand for the third year in strongest Nation Brands.
a row, earning a Brand Strength Index (BSI)
score of 84.8 out of 100. Canada is internationally 51 Germany Why do Nation Brand Value
Top 5 Fastest Growing © Brand Finance Plc 2024
perceived as a ‘strong and stable economy’ and and Strength matter?
is highly rated for its living standards. The nation 82.5 -0.4
🇸🇪
also boasts a culturally diverse population, and Understanding your Nation Brand Value and
one of the best education systems in the world, Strength can act as a safety net when navigating
factors contributing to the nation topping the 62 Sweden the highly fragmented geoeconomic environment
rankings for Nation Brand Strength. of today. It ensures that a nation’s brand plays
82.4 +3.0 to its strengths across each of the key sectors
🇺🇸
Switzerland is a close second for Nation of the economy, paving the way to positive
Brand Strength, retaining its rank from last year. economic benefits.
It has consistently ranked 1st in the Global Soft 71 United States
Power Index in terms of its Reputation for the last Brand Finance’s Nation Brand Value analysis,
five years. In addition to this, the nation 82.4 +1.2 combined with the Global Soft Power Index,
🇦🇪
has maintained positive perceptions across provides a robust tool that enables countries
many other key measures, driven by its economic United Arab globally to track the relationship between their
stability, political consensus, and a historic role 82 Emirates perceptions and performance. This provides
as negotiator and peacemaker for other nations. Nation Brand management teams with insights
82.2 +3.7 to leverage their most important asset in order
🇦🇺
Denmark sees fastest-growth within the top to further the economic development and
10 for Nation Brand Strength, climbing 5 strategic goals of a nation in the long-run.
ranks. Denmark is a frontrunner in sustainable 91 Australia
development with a universal health care and
strong educational system. The nation has been © Brand Finance Plc 2024 82.1 +1.9
🇸🇬
Côte d'Ivoire
rated the least corrupt country in the world by

Transparency International’s annual Corruption
Ethiopia
Ukraine
Albania
Mexico
Perception Index for the 6th year in a row and has 10 2 Singapore
consistently been named one of the happiest
nations in the world, factors contributing to the 82.0 +4.7
29% 28% 23% 20% 20% nation’s rapid growth within the ranking.
48 49
The Relationship between Sustainability and Soft Power
The Relationship between

Sustainability and Soft Power
Global Soft Power Index Score v. UN SDG Index Score (Figure 1) © Brand Finance Plc 2024
90
80
70
Robert Haigh Sofia Liszka
Strategy & Sustainability Strategy & Sustainability
Director, Brand Finance Consultant, Brand Finance
60
GSPI Score
Sustainability encompasses issues that This is supported by the finding that
are truly global in scope, from topics like a nation’s Sustainable Future pillar score
limate change and ocean pollution, to human is highly correlated with national Reputation.
50
rights in supply chains that span multiple Here, we see a strong correlation of r = 0.93.
countries. For this reason, the sustainability- The sustainability perceptions that nations build
related actions of countries have significant fit within broader national activities: here we
scope to shape their international reputation focus on Diplomacy and Business & Trade.
40
and Soft Power.
Diplomacy
Brand Finance’s Global Soft Power Index
reflects the complex linkages between Diplomatic settings must place sustainability
sustainability and Soft Power. Within the in a Soft Power context through dual 30
Sustainable Future pillar, nation brands are relationships. National governments exercise
evaluated on four aspects of environmental diplomatic Soft Power to persuade others to
sustainability: cities and transport, support make commitments at major conferences, like
for global action on climate change, green the annual UN Conference of the Parties (COP). 45 55 65 75 85 95
energy and technologies, and Simultaneously, these events are an opportunity
SDGI Score
environmental protection. for nations, particularly the host, to present
themselves as key actors at the heart
Beyond this, sustainability is reflected of negotiations and leaders in sustainability. Business & Trade In overseeing commerce activities,
in many other Soft Power attributes – nearly national governments increasingly monitor
half of the attributes that drive national Soft At these annual conferences where National reputation-building for greenwashing and oversee sustainability
Power (44%) relate to environmental, social, all voices are heard on the world stage, sustainability is pronounced during reporting. The European Union continues to
and governance (ESG) themes. smaller nations have also built a Soft Power the ongoing green energy shift. Denmark’s set the tone in this space with its Corporate
platform around sustainability. This is strong sustainability reputation is based Sustainability Reporting Directive (CSRD)
Our data points to a clear relationship particularly important for island states, on its swift adoption and scale of renewable and new anti-greenwashing directive.
between sustainability and Soft Power. which stand to be hit first by the worst energy industry infrastructure. Its endeavours
Figure 1 plots national Global Soft Power effects of climate change, and Indigenous have made zero-fossil power days possible At the Global Soft Power Summit 2022,
Index (GSPI) scores against scores on the peoples, who have long been sustainable in recent years, alongside new partnerships former Danish Prime Minister Helle Thorning-
United Nations Sustainable Development custodians of their land and fight forged with other nations like Japan. Schmidt made the key point that nations—like
Goal (SDG) Index, an aggregate measure of displacement and degradation. For this reason, Denmark has developed corporate brands—should be careful to ensure
overall national performance against the UN an association with the wind energy industry that their communication and applications of
SDGs. The correlation coefficient of r=0.65, In our data, there is a correlation that can be likened to Germany and the auto Soft Power are backed up by substance.
whilst not perfect, demonstrates a clear of r=0.89 between national Sustainable industry. Such a perception of national Further, the enduring power of nation brands
relationship between national action on key Future pillar scores and influence expertise continues to help its brands must be emphasised; media ‘noise’ rarely
sustainability challenges and Soft Power. in International Relations. such as Vestas to export around the world. appears to register at an international level
50 51
The Relationship between Sustainability and Soft Power The Relationship between Sustainability and Soft Power
in the short term, which is why nation Leaders in Sustainability Attributes (Figure 2) © Brand Finance Plc 2024
branding campaigns must be linked to real
substance and supported by long-term
financial investment to have Metrics
the desired effect.
In our data, there is a correlation

🇳🇴 🇨🇭 🇸🇪 Acts to protect the environment
of r=0.96 between national Sustainable

Future pillar scores and influence 🇯🇵 🇩🇪 🇳🇴 Invests in green energy and technologies
in Business & Trade.
🇺🇸 🇩🇪 🇨🇦 Supports global efforts to counter climate change
Perceived Sustainability
Highlights 🇯🇵 🇩🇪 🇸🇪 Sustainable cities and transport
Turning to the nation brand-level results

from this year’s Global Soft Power Index,
🇦🇪 🇩🇪 🇨🇭 Strong and stable economy
repeat players have filled the top five ranks
on many measures of sustainability (Figure 2). 🇺🇸 🇨🇦 🇩🇪 Helpful to countries in need
For ‘high ethical standards and low corruption’
Japan receives the highest score, just ahead
of Switzerland. Nordic countries, regular top
🇬🇧 🇨🇦 🇩🇪 Strong educational system
performers on a wide range of Soft Power

metrics, also score well, with Norway 3rd, 🇨🇦 🇳🇱 🇸🇪 Tolerant and inclusive
Finland 4th, and Sweden 5th.
🇬🇧 🇨🇦 🇨🇭 Respects rule of law and human rights
For ‘tolerant and inclusive’ society, we see
a similar group of countries. Canada tops
the list, followed by the Netherlands,
🇯🇵 🇨🇭 🇳🇴 High ethical standards and low levels of corruption
Sweden, Norway, and the United Kingdom.

🇨🇭 🇨🇦 🇩🇪 Politically stable and well-governed
The United States once again has the highest

perceived score for ‘helpful to countries in need.’ 🇬🇧 🇳🇴 🇨🇭 Trustworthy media
The US’ strong support for Ukraine may help
to explain this performance, supported by the
country’s enduring support for international Germany, Sweden, and Switzerland follow to execute. The UK’s recent steps back
institutions and development programs. Japan. The UK makes it into the top five, from its declared net zero plan in autumn
likely attributed to its increased efforts 2023 were widely taken up in the media,
As much as the US is a magnet for criticism, on low-emissions transport. and its climate leadership positioning
the global public recognises and (in Soft Power was questioned. In a more extreme case,
terms) rewards the country for its generosity, The final sustainability statement is the US and China were not even invited
alongside Canada, Germany, the UK, ‘supports global efforts to counter climate to the UN Climate Ambition Summit held
and Sweden. change.’ Here, our research indicates the month prior.
a misalignment between public perception
On measures of environmental and reality. The US is ranked at the top, Conversely, countries with far lower historic
sustainability, Nordic countries again closely followed by the UK in 4th. However, emissions and a lower ongoing per capita
perform well. Rated on ‘acts to protect the contributions of the US and UK to historical impact today are arguably not getting the
the environment,’ Norway is first, followed carbon emissions and associated climate recognition that they deserve as stores of
by Switzerland, Sweden, Canada, and Finland. change are amongst the highest natural capital. There could be an opportunity
‘Sustainable cities and transport’ are one in the world. for the likes of Sri Lanka, Zambia, Jamaica,
the most important sustainability-linked Mozambique, and many more to convey
drivers of Soft Power. On this metric Given this, stakeholders rightly question the critical role they play in the sustainable
Japan leads for the second year. both national intentions and their ability development dynamics of all nations.
52 53
Developing an Edge as a Nation Brand
Developing an Edge as a Nation Brand

Or take Germany. For decades its brand has
been synonymous with precision engineering,
which at one stage made Germany the largest
exporter in the world. German cars and machine
tools captured markets across the globe, their
reputation for quality and reliability unrivalled,
which meant they could charge premium prices.
It was once said back in the 1950s that what
was good for General Motors was good for
America. In more recent times what was good
for Mercedes or BMW or Audi was good for
Andrew Neil Germany.
Publisher, Editor,
Company Chairman France has also fostered what makes its
& Broadcaster Soft Power and nation brand unique. It is the
luxury goods capital of the world. Indeed, there
Britain’s weaknesses are well-known are more French luxury brands with global appeal
and well-established, partly because of our than the rest of the world put together. It is now
national penchant for dwelling on them. Our a key component of what makes Brand France
strengths? We do not big them up nearly as special in the eyes of the world. It has helped A lot of it you cannot even see. But taken is growing. The more developing economies
much as we talk ourselves down. If we have make France a prominent tourist destination. together they make Britain a global services advance, the more their appetite for services
next to nothing to say about our strengths, why It generates billions of euros for the French superpower. Indeed, after America, we generate grows. And keep in mind that Brexit had little
should we expect foreigners to fill in the gap? economy. and export more services than any other country impact on services because the single market
in the world. in services remained undeveloped.
This emphasis on our weaknesses and ignoring America, Germany, and France — to give just
or sidelining of our strengths has a deleterious three examples — have all capitalised on their The manufacturing industry is never going Services and Soft Power go hand in hand. Let
effect on Brand Britain and our global reputation strengths to build their brands and project Soft to return to its former glory. Yes, we will continue me finish with just one example. British legal
for Soft Power which, in turn, undermines our Power. In the process, it has generated great to make things, mainly at the very top, expensive services now generate several billions of pounds
economic performance. If a country will not wealth and global respect for their economies. end of the market with high-value-added, such in export revenues. Nobody would have thought
capitalise on what makes its nation brand So, what is the equivalent for Britain? as Airbus wings, Rolls Royce aero engines, BAE that even possible only a few decades ago.
and Soft Power strong, then it will lose out Systems defence products, Range Rovers, and
in global markets. Some, rather despairingly, might suggest Jaguars. But it is not going to take a bigger share But the reputation of our legal system for
the Monarchy or the House of Lords as vital of our economy. Not at our stage as an advanced fairness, independence, and incorruptible judges
Other countries have long realised this. contributors to Brand Britain. To some extent economy. That is happening nowhere, not in — part of our Soft Power appeal — has made
American Soft Power has long been synonymous they are. They help define what makes Britain France, Italy, or America. Germany’s emphasis English common law the default system under
with its global reputation for cutting-edge distinctive, even unique. But they are essentially on industrial products is sui generis. which many major commercial contracts, even
technology, especially digital technology. All the backward looking, products of our history. those that do not involve UK companies, are now
world’s digital tech giants are American. Only They are quaint — good for the tourist trade It is also in decline. Germany’s heyday as an signed. It started because a key element of our
the Chinese have any rivals of scale, and they — rather than huge engines of economic industrial powerhouse is over, and its economy Soft Power was the legal system. The more it
operate largely in their huge domestic market, generation. You could even argue that they is now in clear secular decline. China is the new expands, the more our brand and Soft Power
whereas America’s high-tech is global. undermine Brand Britain in the 21st century workshop of the world. In many sectors — such are enhanced. It is self-reinforcing.
by reinforcing the idea that we live in the past as EVs, batteries, solar panels, and wind turbines
Facebook, Google, Amazon, Apple, and many and that we are not fit for purpose in — it has massive overcapacity, which means In a difficult, dangerous world in which we let
others are at the forefront of defining Brand the modern world. it is now flooding the world with low-price, too many of our weaknesses fester, we need
America. It is self-reinforcing. If you have a high-quality industrial goods with which the rest to recognise what we are good at, and make it
global reputation for being the crucible for the What — if anything — is the British equivalent of the world cannot compete. Even Germany, even more so. Brand Britain needs to become
latest developments in digital technology, then of American digital technology, German industrial whose car industry is contracting and whose as synonymous with high-quality services as
the rest of the world will beat a path to your might, or French luxury? In a word, it is services. solar panel industry has disappeared. America is with high-tech, France with luxury,
door to develop their own digital breakthroughs. Yes, services, from finance to consultancy, and Germany once was with great cars. This
It explains why so many of America’s digital legal to business, accountancy to insurance, Compare that with the growing demand for is the massive opportunity now staring Britain
developments have been spearheaded architectural to audio-visual to education. the kind of services Britain is a world leader in the face, if only our political and media elite
by migrants. Some of it is not very glamorous. in providing. Even China’s appetite for services had the nous to see it.
54 55
Why Soft Power Matters to Trade and Investment Promotion
Why Soft Power Matters

to Trade and Investment Promotion
and consumers. Cultural appeal, international can signal a forward-thinking and responsible managing perceptions, a country can create
cooperation, and responsible global leadership approach, making the country an appealing an environment perceived as welcoming
contribute to building trust, which is a crucial destination for green investments while and supportive of foreign investment.
factor for investors evaluating potential boosting its overall image.
destinations for their capital. A country's Soft Power therefore
Public diplomacy efforts play a crucial has a profound impact on its economic
Soft Power can also increase a country's role in shaping how a country is perceived prospects by influencing perceptions, building
influence over global consumer preferences. internationally. A well-crafted communications trust, and creating a positive environment for
If a country's cultural products, such as films, strategy can highlight a country’s economic investors and trade partners. Investing in Soft
music, or literature, have a strong international achievements, technological advancements, Power is an investment in eventual economic
appeal, it can create a sense of familiarity and and business-friendly policies. By effectively development and growth.
Courtney Fingar interest among consumers in other countries.
Leading Expert on
Foreign Direct Investment This cultural influence can make it easier for
& Business Editor businesses from that country to access foreign
markets, ultimately attracting investors looking
to capitalise on the popularity of the country's
While often associated with cultural rather cultural exports.
than business influence, Soft Power plays
a pivotal, and increasingly clear, role in Soft Power initiatives like educational
promoting trade and attracting foreign exchange programs contribute to building
investment. Unsurprisingly, countries that strong people-to-people connections. When
perform well in the Global Soft Power Index individuals have positive experiences with
also top foreign direct investment (FDI) a country, whether through education, travel,
league tables and are among the world’s or cultural interactions, they are more likely
most powerful economies. to develop a favourable view of that nation.
This year’s Index highlights the growing These personal connections can influence
importance of Business & Trade attributes investment decisions as individuals with
at a time of global economic challenges positive perceptions may be more inclined
and political instability, with ‘strong and stable to invest or recommend investment
economy’ being revealed as by far the strongest opportunities in that country.
driver of both Influence and Reputation.
Perceptions of political stability
There is something of a virtuous circle, and of commitment to the rule of law
with strong Soft Power helping boost trade, also play a role. Countries that actively
FDI, and economic clout, while being engage in global initiatives, uphold human
economically successful and having healthy rights, and demonstrate responsible leadership
trade and investment links with the rest of the are often seen as more stable and attractive
world also enhancing Soft Power. (Unfortunately, for long-term investments. Investors are more
it can be a vicious circle for countries caught likely to commit capital to these countries,
in a loop of poor Soft Power and low levels reducing the risk associated with their
of inward investment and exports). investments.
There are several reasons for Soft Power’s Soft Power also extends to a country's
relevance to trade and investment. One of influence on global issues such as
the fundamental aspects of Soft Power lies sustainability and environmental responsibility.
in building trust and establishing a positive Countries leading in these areas attract
reputation on the world stage. environmentally conscious investors looking
to align their investments with sustainable
A country with a strong and positive image is practices. The commitment to addressing
more likely to attract foreign partners, investors, climate change and other global challenges
56 57
Tourism's Sunny Side: Gaining
Soft Power through Regeneration
These efforts have not only boosted their
international image, but have also translated
into tangible economic benefits.
However, embracing regenerative tourism

is not without its challenges. Achieving
a balance between preserving natural resources
and promoting tourism, avoiding the pitfalls
of greenwashing, and ensuring equitable
economic benefits remain significant hurdles.
Florian Kaefer Additionally, the unique tourism models,

Founder & Editor, such as Bhutan's High Value, Low Volume
The Place Brand approach, raise questions about scalability
Observer and inclusivity. Can these models be adapted
to different socio-economic contexts, or
do they risk excluding potential benefits
In 2015, during a conversation with to broader segments of society?
Luigi Cabrini, the Chair of the Board at
the Global Sustainable Tourism Council, There are quite a few examples now
he shared a thought that has stayed with of destinations driven by a bold vision
me ever since. "I see tourism as the sunny of sustainability and ambition for regenerative
side of countries and peoples, willing to show development, directly benefiting their Soft Power.
their best and to welcome anybody interested The stories highlighted on Sustainability-Leaders.
in their nature, culture, music, gastronomy. It is com and in the Place Brand Leaders Yearbook
the opposite of the dark side, which produces 2024 offer insights into how tourism can
wars, conflicts, and displacement." serve as a force for good.
This perspective shifted my view on tourism and Yet, they also underscore the need
its role in shaping the identity and perception of for a nuanced approach to implementing
nations on the global stage. regenerative practices. Success in one
context does not guarantee replicability
Reflecting on that moment, I have seen in another, and the path to regeneration
how this sunny side of tourism aligns requires careful consideration of local
perfectly with the concept of regenerative realities, stakeholder engagement,
tourism—a forward-thinking approach that and the potential for unintended
goes beyond mere sustainability. It is about consequences.
actively contributing to the healing and
enhancement of our destinations, creating From my conversation in 2015 to where
a net positive impact that benefits not only we are today, it is evident that the journey
the environment and local communities toward fully realising the potential of regenerative
but also the global image of a nation. tourism is complex. It demands a collective
effort from nations, businesses, and individuals
Countries like New Zealand, to navigate the challenges it presents.
Costa Rica, and Bhutan illustrate the
potential of regenerative tourism. Each, Together, we can make sure that every country
in its own way, has harnessed the power is celebrated for making our shared world
of its natural beauty and cultural heritage a better place, truly showing off the sunny
to build a brand synonymous with side of tourism that Luigi Cabrini
environmental responsibility spoke about.
and sustainable living.
58
04
Appendices
60 61
Global Soft Power Index Global Soft Power Index | 1-25
The full breakdown of results by nation brand
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
1 1 0 🇺🇸 USA North America 78.8 +4.0 74.8 $32,271,140 +6.5% $30,309,110 🇺🇸 9.0 8.1 7.3 8.9 7.4 6.1 8.7 6.6 4.4 8.4 6.1 17
2 2 0 🇬🇧 United Kingdom Europe 71.8 +4.5 67.3 $4,036,790 -15.8% $4,796,830 🇬🇧 8.6 6.8 7.6 8.3 6.9 6.6 8.3 5.9 4.9 6.2 6.2 12
3 5 2 🇨🇳 China Asia 71.2 +6.2 65.0 $19,960,020 -13.5% $23,085,110 🇨🇳 8.5 7.7 6.8 8.8 5.7 4.8 7.1 4.4 3.6 7.6 5.5 8
4 4 0 🇯🇵 Japan Asia 70.6 +5.4 65.2 $4,406,090 -1.0% $4,448,780 🇯🇵 8.3 6.2 7.7 8.9 6.8 6.5 7.0 4.7 5.5 7.9 7.1 13
5 3 1 🇩🇪 Germany Europe 69.8 +4.0 65.8 $4,985,350 -1.8% $5,075,970 🇩🇪 8.4 6.4 7.5 8.5 5.8 6.6 7.9 5.0 4.8 6.6 6.8 12
6 6 0 🇫🇷 France Europe 67.3 +4.9 62.4 $3,522,360 -4.0% $3,669,880 🇫🇷 8.6 6.3 7.1 8.0 7.9 5.4 7.4 5.0 4.6 5.0 5.7 4
7 7 0 🇨🇦 Canada North America 64.4 +3.7 60.7 $2,670,820 +1.9% $2,621,270 🇨🇦 8.2 5.8 7.7 7.8 5.0 6.4 6.9 4.8 5.7 5.1 6.3 17
8 8 0 🇨🇭 Switzerland Europe 62.9 +4.4 58.5 $1,065,370 +3.3% $1,031,600 🇨🇭 7.4 5.4 7.8 8.2 5.1 6.6 6.6 4.3 5.5 5.0 6.5 18
9 9 0 🇮🇹 Italy Europe 62.0 +5.4 56.6 $2,326,270 -0.8% $2,345,220 🇮🇹 8.4 5.6 7.3 7.4 7.9 4.5 6.0 4.5 5.3 4.0 5.1 6
10 10 0 🇦🇪 United Arab Emirates MENA 59.7 +4.5 55.2 $1,061,770 +10.9% $957,250 🇦🇪 6.4 5.9 7.1 7.7 4.5 5.3 6.3 4.2 4.5 4.5 5.5 3
11 12 2 🇪🇸 Spain Europe 59.2 +4.3 54.9 $1,755,090 +1.0% $1,738,560 🇪🇸 8.1 5.5 7.3 6.6 7.1 4.4 5.6 4.4 5.2 3.8 5.0 5
12 11 1 🇸🇪 Sweden Europe 59.0 +3.9 55.1 $821,640 -4.6% $861,180 🇸🇪 7.0 4.9 7.4 7.8 5.0 5.9 6.1 4.1 5.3 4.9 6.6 3
13 14 2 🇦🇺 Australia Oceania 58.6 +4.0 54.6 $1,792,610 +1.8% $1,760,500 🇦🇺 7.8 5.0 7.4 7.4 5.1 5.4 5.8 4.2 5.2 4.4 5.9 -
14 16 2 🇳🇱 Netherlands Europe 58.2 +4.5 53.7 $1,390,120 +3.3% $1,345,120 🇳🇱 6.9 5.0 7.3 7.6 5.2 5.5 5.9 4.1 5.4 4.5 6.4 -
15 15 0 🇰🇷 South Korea Asia 58.0 +4.1 53.9 $1,936,760 -6.9% $2,080,520 🇰🇷 7.3 5.2 6.8 7.4 5.6 4.7 5.3 4.1 4.3 5.6 5.2 -
16 13 1 🇷🇺 Russia Europe 57.7 +2.9 54.8 $698,080 +2.6% $680,380 🇷🇺 8.3 6.5 5.6 5.5 4.2 4.3 6.1 4.2 3.1 5.4 3.9 2
17 17 0 🇳🇴 Norway Europe 56.8 +4.2 52.6 $586,230 -0.0% $586,380 🇳🇴 6.6 4.7 7.4 7.4 4.7 6.0 5.7 3.9 5.4 4.7 6.6 6
18 19 2 🇸🇦 Saudi Arabia MENA 56.0 +4.7 51.3 $1,040,470 +10.6% $940,560 🇸🇦 6.7 5.8 6.6 6.8 3.8 4.7 6.2 3.9 4.0 3.6 4.7 -
19 18 1 🇩🇰 Denmark Europe 55.5 +3.7 51.8 $586,740 +0.6% $583,120 🇩🇰 6.6 4.6 7.2 7.4 4.6 5.6 5.6 4.0 5.1 4.4 6.2 -
20 20 0 🇧🇪 Belgium Europe 55.2 +4.0 51.2 $744,340 +0.6% $739,660 🇧🇪 6.7 5.0 7.0 7.0 4.7 5.0 5.7 3.9 4.7 4.0 5.4 -
21 24 2 🇶🇦 Qatar MENA 54.5 +4.6 49.9 $270,370 +12.8% $239,650 🇶🇦 5.9 5.3 6.9 7.0 4.0 4.9 5.7 4.0 4.4 4.0 5.0 -
22 21 1 🇸🇬 Singapore Asia 54.4 +3.4 51.0 $704,210 +13.1% $622,430 🇸🇬 6.3 4.8 7.1 7.2 4.3 5.2 4.9 3.9 4.6 4.7 5.4 -
23 25 2 🇦🇹 Austria Europe 54.2 +4.3 49.9 $597,790 -4.6% $626,570 🇦🇹 6.5 4.6 7.1 7.0 5.0 5.2 5.4 3.8 4.9 4.1 5.6 -
24 22 1 🇫🇮 Finland Europe 53.9 +3.2 50.7 $355,880 -3.8% $369,870 🇫🇮 6.1 4.4 7.2 7.1 4.4 5.7 5.3 3.9 5.2 4.6 6.3 -
25 23 1 🇹🇷 Turkey Europe 53.7 +3.3 50.4 $496,420 +12.8% $439,960 🇹🇷 7.3 5.5 6.4 5.7 5.4 3.9 5.5 4.0 4.2 3.4 3.9 -
* All data points have been rounded to the first decimal place. • Gold digits | 1 st
in Class • Silver digits | 2 nd
in Class • Bronze digits | 3 rd
in Class
62 63
The full breakdown of results by nation brand Global Soft Power Index | 26-50
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
26 26 0 🇳🇿 New Zealand Oceania 52.5 +2.7 49.8 $250,210 -10.6% $279,940 🇳🇿 6.6 4.3 7.2 6.7 4.5 5.2 4.8 3.9 5.2 3.9 5.6 -
27 30 2 🇵🇹 Portugal Europe 50.1 +3.5 46.6 $264,410 -2.0% $269,860 🇵🇹 7.1 4.6 6.9 5.4 5.2 4.1 4.5 3.7 4.7 3.2 4.3 -
28 29 2 🇮🇪 Ireland Europe 49.9 +3.2 46.7 $854,400 +2.6% $832,800 🇮🇪 6.3 4.2 6.9 6.2 4.7 4.6 4.6 3.6 4.9 3.6 5.0 -
29 28 1 🇮🇳 India Asia 49.8 +2.8 47.0 $2,944,480 +0.7% $2,923,950 🇮🇳 7.7 5.2 6.0 4.6 5.7 2.9 4.3 3.2 3.4 4.2 3.0 -
30 32 2 🇱🇺 Luxembourg Europe 49.0 +3.7 45.3 $126,120 -2.0% $128,730 🇱🇺 4.4 4.1 7.0 6.8 3.9 5.3 4.9 3.6 4.6 3.9 5.3 -
31 31 0 🇧🇷 Brazil LATAM & Caribbean 48.8 +2.6 46.2 $911,210 +10.5% $824,800 🇧🇷 7.8 4.8 6.6 4.6 5.5 2.9 4.0 3.5 4.3 2.7 3.6 2
32 27 1 🇮🇱 Israel MENA 48.7 +0.3 48.4 $414,380 -0.5% $416,390 🇮🇱 6.9 5.2 5.5 4.9 3.4 3.5 5.0 3.7 3.1 4.3 3.6 -
33 33 0 🇵🇱 Poland Europe 48.6 +3.5 45.1 $863,580 +9.3% $790,350 🇵🇱 6.5 4.4 6.5 5.4 4.0 4.1 5.0 3.6 4.3 3.5 4.4 -
34 34 0 🇮🇸 Iceland Europe 45.8 +1.1 44.7 $32,600 +8.2% $30,140 🇮🇸 5.6 3.6 6.8 5.6 3.8 4.8 4.0 3.3 4.8 3.6 5.5 -
35 39 2 🇲🇾 Malaysia Asia 45.7 +3.1 42.6 $517,690 +1.2% $511,740 🇲🇾 5.6 4.4 6.4 5.4 3.9 3.7 4.0 3.3 4.2 3.3 4.1 -
36 36 0 🇬🇷 Greece Europe 45.6 +1.3 44.3 $118,440 -0.2% $118,690 🇬🇷 7.1 4.1 6.5 4.3 5.7 3.3 3.7 3.1 4.5 2.8 3.8 2
37 35 1 🇰🇼 Kuwait MENA 45.3 +1.0 44.3 $152,210 +2.5% $148,560 🇰🇼 4.9 4.5 6.2 5.7 3.1 4.0 4.5 3.2 3.8 3.0 3.9 -
38 42 2 🇦🇷 Argentina LATAM & Caribbean 45.0 +2.8 42.2 $243,690 +15.0% $211,880 🇦🇷 7.3 4.3 6.4 4.0 4.8 2.9 3.8 3.5 4.1 2.7 3.5 1
39 38 1 🇪🇬 Egypt MENA 44.9 +1.9 43.0 $251,900 +12.1% $224,810 🇪🇬 7.3 4.4 6.2 4.0 4.7 2.9 4.1 3.2 3.6 2.8 3.1 1
40 41 2 🇹🇭 Thailand Asia 44.8 +2.4 42.4 $505,430 -0.2% $506,360 🇹🇭 6.8 4.2 6.3 4.9 4.8 2.9 3.4 3.1 4.3 2.7 3.6 -
41 44 2 🇲🇽 Mexico LATAM & Caribbean 44.0 +3.0 41.0 $1,031,630 +29.4% $797,030 🇲🇽 7.3 4.2 5.9 4.1 5.5 2.5 3.5 3.3 3.9 2.5 3.1 1
42 - 3 🇲🇨 Monaco Europe 43.8 - - $7,160 - - 🇲🇨 4.6 3.3 6.6 6.1 4.7 4.7 4.2 3.4 4.3 3.0 4.1 -
43 40 1 🇿🇦 South Africa Sub-Saharan Africa 43.7 +1.2 42.5 $207,900 -7.7% $225,160 🇿🇦 6.6 4.5 6.1 4.1 3.8 3.0 3.9 3.2 3.4 2.7 3.4 -
44 37 1 🇺🇦 Ukraine Europe 43.0 -1.3 44.3 $99,040 +19.7% $82,710 🇺🇦 7.3 4.9 5.5 3.1 2.8 3.0 3.9 3.6 3.1 2.6 2.8 -
45 45 0 🇮🇩 Indonesia Asia 42.6 +1.7 40.9 $1,053,270 +0.4% $1,049,330 🇮🇩 5.8 4.1 6.2 4.5 3.9 3.2 3.7 3.1 4.2 2.9 3.5 -
46 43 1 🇨🇿 Czech Republic Europe 42.3 +0.3 42.0 $454,390 +3.9% $437,340 🇨🇿 4.9 3.9 6.2 4.8 4.0 3.6 3.9 3.2 4.1 3.0 4.0 -
47 47 0 🇭🇷 Croatia Europe 41.8 +1.1 40.7 $54,290 +2.6% $52,930 🇭🇷 5.3 3.8 6.3 4.3 4.0 3.5 3.8 3.1 4.1 3.0 3.9 -
48 48 0 🇭🇺 Hungary Europe 41.4 +0.9 40.5 $213,630 -0.4% $214,510 🇭🇺 5.4 3.9 6.0 4.3 3.7 3.3 3.9 3.0 3.8 2.9 3.7 -
49 46 1 🇴🇲 Oman MENA 40.6 -0.1 40.7 $48,260 +7.6% $44,840 🇴🇲 3.6 3.9 5.9 4.8 3.3 3.9 4.1 3.3 4.2 2.9 3.8 -
50 55 2 🇲🇦 Morocco MENA 40.6 +1.4 39.2 $87,290 -4.0% $90,890 🇲🇦 5.7 3.9 5.9 3.9 4.3 2.9 3.4 2.9 3.9 2.5 3.2 -
64 65
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
51 50 1 🇧🇭 Bahrain MENA 40.0 +0.0 40.0 $27,450 +2.5% $26,780 🇧🇭 3.6 3.9 5.8 5.0 3.1 3.6 4.0 3.2 3.9 2.8 3.5 -
52 61 2 🇵🇭 Philippines Asia 39.8 +1.1 38.7 $525,620 -0.1% $526,250 🇵🇭 6.0 3.8 5.9 3.8 3.8 2.7 3.3 3.0 4.0 2.6 3.2 -
53 69 2 🇻🇳 Vietnam Asia 39.6 +1.8 37.8 $507,060 +1.8% $498,130 🇻🇳 6.1 3.8 5.7 4.0 3.5 2.8 3.2 2.8 3.5 2.7 3.2 -
54 49 1 🇬🇪 Georgia Europe 39.3 -0.7 40.0 $23,660 +9.1% $21,680 🇬🇪 4.0 3.6 5.9 4.2 3.9 3.4 3.8 3.4 4.2 3.0 3.8 -
55 59 2 🇲🇻 Maldives Asia 39.2 +0.3 38.9 $3,650 +9.9% $3,320 🇲🇻 4.7 3.6 6.6 4.1 4.0 2.9 2.9 3.1 4.4 2.4 3.7 1
56 52 1 🇸🇮 Slovenia Europe 39.0 -0.6 39.6 $91,220 +1.5% $89,870 🇸🇮 4.0 3.7 6.0 4.1 3.4 3.5 3.6 3.2 3.9 2.9 4.1 -
57 51 1 🇪🇪 Estonia Europe 38.9 -1.1 40.0 $50,550 +5.3% $48,010 🇪🇪 3.4 3.6 5.8 4.5 3.3 3.7 3.8 3.2 3.9 3.2 4.2 -
58 64 2 🇷🇴 Romania Europe 38.8 +0.4 38.4 $215,950 +2.8% $210,150 🇷🇴 5.3 3.7 5.9 3.7 3.5 3.0 3.3 3.0 3.7 2.7 3.5 -
59 54 1 🇨🇱 Chile LATAM & Caribbean 38.8 -0.7 39.5 $272,150 +0.9% $269,750 🇨🇱 5.4 3.7 5.8 3.8 3.6 2.7 3.3 3.0 3.8 2.6 3.3 -
60 62 2 🇸🇰 Slovakia Europe 38.8 +0.1 38.7 $128,560 -3.6% $133,420 🇸🇰 4.2 3.6 5.9 4.1 3.4 3.3 3.6 3.1 3.9 2.9 3.8 -
61 60 1 🇱🇹 Lithuania Europe 38.6 -0.3 38.9 $68,320 -1.9% $69,650 🇱🇹 3.8 3.7 5.8 4.1 3.3 3.4 3.8 3.2 3.9 3.0 3.9 -
62 77 2 🇮🇷 Iran MENA 38.5 +1.8 36.7 $196,000 +2.3% $191,680 🇮🇷 6.5 4.3 4.7 3.1 2.5 2.5 3.6 2.8 2.4 2.6 2.6 -
63 53 1 🇯🇴 Jordan MENA 38.5 -1.0 39.5 $27,810 +2.0% $27,270 🇯🇴 4.6 3.7 5.7 3.9 3.4 3.3 3.9 3.1 3.8 2.7 3.1 -
64 56 1 🇧🇬 Bulgaria Europe 38.1 -1.1 39.2 $86,630 +2.6% $84,450 🇧🇬 4.9 3.6 5.8 3.8 3.3 3.0 3.4 2.9 3.7 2.7 3.5 -
65 68 2 🇨🇾 Cyprus Europe 38.0 +0.2 37.8 $27,580 +1.8% $27,100 🇨🇾 4.0 3.6 6.0 4.1 3.8 3.1 3.2 2.9 4.2 2.6 3.4 -
66 63 1 🇺🇾 Uruguay LATAM & Caribbean 37.9 -0.5 38.4 $65,780 +14.3% $57,560 🇺🇾 4.9 3.6 5.8 3.7 3.5 3.0 3.3 3.1 3.9 2.6 3.4 -
67 70 2 🇵🇦 Panama LATAM & Caribbean 37.9 +0.2 37.7 $64,460 +6.2% $60,690 🇵🇦 4.4 3.7 5.8 4.1 3.2 2.9 3.4 3.0 3.7 2.7 3.3 -
68 71 2 🇲🇹 Malta Europe 37.9 +0.4 37.5 $15,870 +2.1% $15,550 🇲🇹 3.6 3.4 6.1 4.3 3.7 3.5 3.5 3.0 4.1 2.8 3.9 -
69 58 1 🇨🇴 Colombia LATAM & Caribbean 37.6 -1.4 39.0 $248,160 -0.3% $248,830 🇨🇴 6.0 3.7 5.4 3.4 3.8 2.3 2.9 2.9 3.5 2.3 2.8 -
70 72 2 🇨🇷 Costa Rica LATAM & Caribbean 37.5 +0.2 37.3 $38,820 +13.2% $34,300 🇨🇷 4.4 3.4 5.9 3.9 3.7 2.9 3.4 3.1 4.2 2.6 3.6 -
71 65 1 🇱🇻 Latvia Europe 37.2 -1.2 38.4 $43,300 -1.2% $43,820 🇱🇻 3.3 3.6 5.6 4.1 3.1 3.5 3.8 3.1 3.7 2.8 3.8 -
72 76 2 Peru LATAM & Caribbean 37.0 +0.2 36.8 $177,190 +19.4% $148,410 5.2 3.5 5.7 3.5 3.7 2.6 3.0 3.0 3.9 2.4 3.2 -
73 86 2 🇩🇿 Algeria MENA 36.8 +0.8 36.0 $102,760 +5.6% $97,310 🇩🇿 4.6 3.7 5.5 3.4 3.2 2.9 3.3 3.0 3.6 2.5 3.2 -
74 66 1 🇨🇺 Cuba LATAM & Caribbean 36.8 -1.5 38.3 $42,800 -0.5% $43,020 🇨🇺 6.0 3.8 5.2 2.8 3.5 2.6 3.1 2.6 3.5 2.5 2.6 -
75 73 1 🇷🇸 Serbia Europe 36.7 -0.2 36.9 $68,710 -1.9% $70,020 🇷🇸 4.7 3.6 5.5 3.4 3.2 2.8 3.3 3.1 3.4 2.6 3.3 -
66 67
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
76 - 3 🇰🇵 North Korea Asia 36.7 - - - - - 🇰🇵 6.7 3.7 4.1 3.4 2.3 3.0 3.3 2.6 2.1 3.1 2.7 -
77 83 2 🇹🇳 Tunisia MENA 36.6 +0.2 36.4 $23,350 -16.9% $28,100 🇹🇳 4.5 3.6 5.7 3.4 3.7 2.7 3.2 3.0 3.8 2.4 3.0 -
78 75 1 🇵🇾 Paraguay LATAM & Caribbean 36.3 -0.5 36.8 $36,280 +10.1% $32,960 🇵🇾 4.4 3.4 5.6 3.5 3.3 2.8 3.3 3.0 3.8 2.6 3.3 -
79 93 2 🇳🇬 Nigeria Sub-Saharan Africa 36.3 +0.9 35.4 $209,560 -20.9% $264,910 🇳🇬 5.4 3.9 5.3 3.1 3.3 2.1 2.9 2.9 3.0 2.2 2.7 -
80 79 1 🇰🇿 Kazakhstan Asia 35.9 -0.6 36.5 $231,570 +6.2% $218,130 🇰🇿 4.1 3.5 5.4 3.5 3.0 2.9 3.3 3.0 3.6 2.7 3.3 -
81 84 2 🇵🇰 Pakistan Asia 35.6 -0.8 36.4 $219,440 -5.3% $231,730 🇵🇰 6.2 3.8 4.8 2.8 2.6 2.2 3.1 2.7 2.8 2.2 2.5 -
82 - 3 🇱🇮 Liechtenstein Europe 35.5 - - $8,790 - - 🇱🇮 2.4 2.9 5.5 5.1 2.7 4.1 3.5 2.8 3.7 2.8 4.1 -
83 81 1 🇩🇴 Dominican Republic LATAM & Caribbean 35.5 -0.9 36.4 $94,410 +9.4% $86,320 🇩🇴 4.1 3.4 5.7 3.4 3.5 2.7 3.2 3.0 4.0 2.4 3.0 -
84 57 1 🇦🇿 Azerbaijan Europe 35.3 -3.8 39.1 $39,750 +7.8% $36,870 🇦🇿 3.5 3.5 5.3 3.5 3.2 2.8 3.5 3.0 3.7 2.5 3.2 -
85 92 2 🇬🇭 Ghana Sub-Saharan Africa 35.1 -0.4 35.5 $63,320 +0.1% $63,230 🇬🇭 4.4 3.5 5.4 3.2 3.4 2.7 3.1 2.8 3.5 2.4 2.9 -
86 90 2 🇪🇨 Ecuador LATAM & Caribbean 35.0 -0.7 35.7 $44,490 +3.1% $43,160 🇪🇨 4.5 3.4 5.5 3.3 3.1 2.5 3.1 2.8 3.6 2.4 3.0 -
87 - 3 🇧🇾 Belarus Europe 35.0 - - $44,360 - - 🇧🇾 4.0 3.6 4.9 3.4 2.9 2.8 3.4 2.9 3.1 2.6 3.0 -
88 - 3 🇧🇸 Bahamas LATAM & Caribbean 34.9 - - $9,100 - - 🇧🇸 3.7 3.0 6.0 3.9 3.9 2.8 2.9 2.8 4.3 2.3 3.2 -
89 106 2 🇻🇪 Venezuela LATAM & Caribbean 34.9 +0.2 34.7 $34,840 +18.9% $29,300 🇻🇪 5.3 3.7 4.9 2.9 3.1 2.3 2.9 2.7 3.2 2.1 2.7 -
90 99 2 🇯🇲 Jamaica LATAM & Caribbean 34.8 -0.3 35.1 $10,720 +2.9% $10,420 🇯🇲 5.2 3.2 5.7 2.9 4.3 2.2 2.6 2.6 4.1 2.0 2.7 -
91 89 1 🇱🇧 Lebanon MENA 34.8 -1.0 35.8 $8,670 -0.2% $8,690 🇱🇧 4.9 3.6 5.0 2.9 3.4 2.3 3.1 2.8 3.2 2.2 2.6 -
92 108 2 🇦🇱 Albania Europe 34.7 +0.3 34.4 $13,540 +28.5% $10,540 🇦🇱 3.8 3.4 5.4 3.3 3.2 2.8 3.1 3.0 3.7 2.7 3.2 -
93 98 2 🇹🇿 Tanzania Sub-Saharan Africa 34.7 -0.4 35.1 $51,660 +6.2% $48,640 🇹🇿 3.7 3.5 5.4 3.3 3.1 2.9 3.1 2.9 3.6 2.3 3.1 -
94 103 2 🇸🇳 Senegal Sub-Saharan Africa 34.6 -0.3 34.9 $18,950 +7.7% $17,590 🇸🇳 4.1 3.5 5.4 3.1 3.2 2.6 3.0 2.8 3.7 2.3 3.0 -
95 100 2 🇰🇪 Kenya Sub-Saharan Africa 34.6 -0.4 35.0 $73,480 -11.0% $82,590 🇰🇪 4.8 3.5 5.4 3.0 3.0 2.4 2.9 2.7 3.5 2.2 2.9 -
96 97 2 🇧🇩 Bangladesh Asia 34.6 -0.5 35.1 $529,750 +4.3% $507,870 🇧🇩 4.8 3.5 5.2 3.2 2.7 2.3 3.0 2.7 3.1 2.3 2.7 -
97 67 1 🇲🇺 Mauritius Sub-Saharan Africa 34.3 -3.7 38.0 $12,420 +15.2% $10,780 🇲🇺 2.9 3.2 5.5 3.8 3.4 2.9 3.1 3.1 3.8 2.5 3.4 -
98 115 2 🇱🇰 Sri Lanka Asia 34.3 +0.5 33.8 $47,450 -2.1% $48,470 🇱🇰 4.5 3.3 5.4 3.2 3.3 2.3 3.0 2.7 3.4 2.3 2.9 -
99 116 2 🇮🇶 Iraq MENA 34.2 +0.5 33.7 $68,830 +1.5% $67,790 🇮🇶 6.4 3.8 4.5 2.5 2.3 2.0 2.9 2.6 2.5 2.1 2.2 -
100 82 1 🇧🇴 Bolivia LATAM & Caribbean 34.2 -2.2 36.4 $19,560 -13.4% $22,590 🇧🇴 3.9 3.5 5.3 3.2 3.0 2.5 3.1 2.9 3.6 2.4 3.0 -
68 69
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
101 101 0 🇺🇿 Uzbekistan Asia 34.1 -0.9 35.0 $110,270 +11.1% $99,290 🇺🇿 3.6 3.3 5.2 3.3 3.1 2.8 3.2 2.9 3.6 2.5 3.0 -
102 78 1 🇲🇪 Montenegro Europe 34.0 -2.5 36.5 $3,890 -2.5% $3,990 🇲🇪 3.1 3.3 5.4 3.4 3.1 2.9 3.0 3.0 3.7 2.6 3.2 -
103 102 1 🇲🇬 Madagascar Sub-Saharan Africa 33.9 -1.0 34.9 $11,120 -4.6% $11,660 🇲🇬 4.2 3.1 5.7 3.3 3.2 2.7 2.8 2.7 3.8 2.4 3.2 -
104 85 1 🇷🇼 Rwanda Sub-Saharan Africa 33.9 -2.3 36.2 $11,390 +2.9% $11,070 🇷🇼 3.3 3.4 5.0 3.4 2.9 3.2 3.1 2.9 3.4 2.5 3.4 -
105 91 1 🇳🇵 Nepal Asia 33.8 -1.8 35.6 $27,870 -3.6% $28,900 🇳🇵 4.5 3.1 5.6 3.0 3.3 2.6 2.9 2.7 3.9 2.3 2.9 -
106 - 3 🇦🇲 Armenia Europe 33.5 - - $17,790 - - 🇦🇲 3.6 3.2 5.3 3.2 3.3 2.6 3.0 3.0 3.4 2.6 2.8 -
107 - 3 🇧🇳 Brunei Darussalam Asia 33.3 - - $6,530 - - 🇧🇳 2.5 3.2 5.0 4.1 2.7 3.3 3.4 2.8 3.4 2.5 3.1 -
108 87 1 🇨🇮 Côte d'Ivoire Sub-Saharan Africa 33.2 -2.7 35.9 $50,840 +19.8% $42,440 🇨🇮 3.4 3.4 5.2 3.2 3.1 2.4 2.9 2.8 3.5 2.3 2.8 -
109 - 3 🇲🇰 North Macedonia Europe 33.2 - - $9,910 - - 🇲🇰 2.8 3.3 5.0 3.3 3.2 2.8 3.2 2.9 3.7 2.6 3.3 -
110 109 1 🇨🇲 Cameroon Sub-Saharan Africa 33.2 -1.2 34.4 $18,450 -6.9% $19,810 🇨🇲 4.1 3.3 5.3 2.9 3.1 2.3 2.9 2.7 3.3 2.2 2.7 -
111 94 1 🇧🇦 Bosnia and Herzegovina Europe 33.1 -2.2 35.3 $15,410 +8.5% $14,200 🇧🇦 3.5 3.4 5.3 2.9 3.0 2.6 2.9 2.7 3.5 2.4 2.9 -
112 105 1 🇰🇭 Cambodia Asia 32.8 -2.0 34.8 $17,920 +5.3% $17,010 🇰🇭 4.4 3.2 5.1 2.9 3.0 2.4 2.8 2.6 3.3 2.2 2.9 -
113 112 1 🇿🇲 Zambia Sub-Saharan Africa 32.8 -1.1 33.9 $18,170 +7.1% $16,970 🇿🇲 3.5 3.3 5.1 3.0 2.8 2.6 3.1 2.8 3.5 2.3 3.0 -
114 107 1 🇨🇩 D.R Congo Sub-Saharan Africa 32.8 -1.6 34.4 $35,290 +0.5% $35,100 🇨🇩 3.7 3.5 5.0 3.0 3.0 2.2 2.8 2.9 3.1 2.2 2.7 -
115 110 1 🇪🇹 Ethiopia Sub-Saharan Africa 32.7 -1.6 34.3 $73,500 +23.1% $59,730 🇪🇹 4.6 3.3 5.1 2.7 2.8 2.3 2.8 2.5 3.3 2.1 2.7 -
116 111 1 🇦🇴 Angola Sub-Saharan Africa 32.7 -1.5 34.2 $49,050 +7.7% $45,530 🇦🇴 3.4 3.3 5.1 3.0 2.8 2.5 3.0 2.8 3.4 2.3 3.0 -
117 - 3 🇸🇻 El Salvador LATAM & Caribbean 32.6 - - $13,040 - - 🇸🇻 3.5 3.1 5.2 3.0 2.8 3.2 3.1 2.9 3.5 2.3 2.9 -
118 - 3 🇲🇩 Moldova Europe 32.4 - - $12,300 - - 🇲🇩 3.0 3.2 5.1 3.2 2.8 2.7 3.1 2.9 3.4 2.5 3.1 -
119 - 3 🇨🇫 Central African Republic Sub-Saharan Africa 32.4 - - $1,290 - - 🇨🇫 3.3 3.4 5.0 3.0 2.7 2.4 3.0 2.9 3.3 2.4 2.8 -
120 104 1 🇭🇳 Honduras LATAM & Caribbean 32.2 -2.6 34.8 $23,390 -0.8% $23,590 🇭🇳 3.4 3.1 4.9 3.3 2.8 2.4 3.0 3.0 3.4 2.5 3.0 -
121 119 1 🇺🇬 Uganda Sub-Saharan Africa 32.0 -1.4 33.4 $34,750 +9.7% $31,690 🇺🇬 4.1 3.3 5.0 2.8 2.7 2.3 2.8 2.6 3.2 2.1 2.7 -
122 - 3 🇲🇳 Mongolia Asia 32.0 - - $13,430 - - 🇲🇳 4.4 3.0 5.3 2.9 2.8 2.5 2.6 2.6 3.5 2.2 2.8 -
123 - 3 🇧🇹 Bhutan Asia 31.7 - - $1,330 - - 🇧🇹 2.9 3.1 5.2 3.1 2.9 3.0 2.8 2.6 3.5 2.2 3.2 -
124 95 1 🇸🇩 Sudan Sub-Saharan Africa 31.5 -3.8 35.3 $9,900 -44.8% $17,920 🇸🇩 4.5 3.3 4.6 2.7 2.4 2.1 2.6 2.8 3.2 2.1 2.4 -
125 - 3 🇸🇲 San Marino Europe 31.5 - - $660 - - 🇸🇲 2.5 2.7 5.3 3.8 2.9 3.0 3.0 2.7 3.5 2.4 3.2 -
70 71
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
126 120 1 🇬🇹 Guatemala LATAM & Caribbean 31.5 -1.8 33.3 $70,140 +17.2% $59,860 🇬🇹 3.5 3.0 5.0 3.0 2.9 2.3 3.0 2.8 3.4 2.3 3.0 -
127 121 1 🇿🇼 Zimbabwe Sub-Saharan Africa 31.5 -1.2 32.7 $1,420 +1.4% $1,400 🇿🇼 4.2 3.2 5.0 2.7 2.6 2.2 2.6 2.6 3.2 2.1 2.6 -
128 - 3 🇦🇩 Andorra Europe 31.4 - - $2,610 - - 🇦🇩 2.6 2.7 5.2 4.1 2.8 3.0 2.7 2.7 3.5 2.4 3.3 -
129 - 3 🇸🇾 Syria MENA 31.2 - - $4,530 - - 🇸🇾 5.7 3.5 4.2 2.0 2.5 1.7 2.4 2.5 2.7 1.8 1.9 -
130 - 3 🇩🇲 Dominica LATAM & Caribbean 31.1 - - $320 - - 🇩🇲 2.8 2.9 5.1 3.2 3.1 2.7 3.1 2.7 3.5 2.4 2.8 -
131 - 3 🇱🇷 Liberia Sub-Saharan Africa 30.8 - - $10 - - 🇱🇷 3.4 2.9 4.9 3.0 2.6 2.6 3.0 2.8 3.1 2.4 2.9 -
132 114 1 🇲🇿 Mozambique Sub-Saharan Africa 30.8 -3.1 33.9 $14,360 +10.2% $13,030 🇲🇿 3.3 3.1 4.9 3.0 2.7 2.4 2.6 2.7 3.4 2.2 2.8 -
133 - 3 🇳🇦 Namibia Sub-Saharan Africa 30.5 - - $6,670 - - 🇳🇦 3.2 2.9 5.0 2.9 2.7 2.7 2.7 2.5 3.5 2.2 2.9 -
134 117 1 Laos Asia 30.5 -3.1 33.6 $9,200 -23.5% $12,030 3.1 3.0 4.7 2.9 2.6 2.3 2.8 2.8 3.1 2.3 2.7 -
135 - 3 🇫🇯 Fiji Oceania 30.5 - - $3,050 - - 🇫🇯 2.8 2.6 5.3 3.2 3.1 2.5 2.7 2.6 3.8 2.3 3.0 -
136 113 1 🇲🇲 Myanmar Asia 30.3 -3.6 33.9 $36,260 -4.9% $38,140 🇲🇲 3.9 3.3 4.4 2.7 2.3 2.0 2.6 2.6 2.6 2.1 2.4 -
137 80 1 🇧🇧 Barbados LATAM & Caribbean 30.2 -6.2 36.4 $5,510 +7.4% $5,130 🇧🇧 2.5 2.7 5.1 3.2 3.2 2.6 2.9 2.6 3.5 2.2 2.8 -
138 88 1 🇹🇲 Turkmenistan Asia 30.2 -5.6 35.8 $47,720 +15.2% $41,420 🇹🇲 2.8 3.1 4.8 2.8 2.6 2.5 2.9 2.6 3.3 2.2 2.8 -
139 - 3 🇱🇾 Libya MENA 30.1 - - $14,360 - - 🇱🇾 4.8 3.4 4.5 2.2 2.0 1.8 2.4 2.3 2.6 1.7 2.1 -
140 - 3 🇲🇱 Mali Sub-Saharan Africa 30.0 - - $9,050 - - 🇲🇱 3.4 3.2 4.7 2.7 2.6 2.1 2.5 2.4 3.1 1.9 2.5 -
141 - 3 🇧🇯 Benin Sub-Saharan Africa 29.9 - - $10,350 - - 🇧🇯 2.4 3.1 4.4 3.1 2.8 2.4 2.7 2.7 3.2 2.3 2.7 -
142 - 3 🇬🇳 Guinea Sub-Saharan Africa 29.9 - - $15,290 - - 🇬🇳 3.6 2.9 5.0 2.7 2.7 2.1 2.6 2.5 3.3 2.0 2.7 -
143 - 3 🇳🇪 Niger Sub-Saharan Africa 29.8 - - $8,210 - - 🇳🇪 3.8 3.1 4.7 2.5 2.5 2.0 2.5 2.5 2.9 2.0 2.4 -
144 74 1 🇸🇨 Seychelles Sub-Saharan Africa 29.5 -7.4 36.9 $1,040 +4.0% $1,000 🇸🇨 2.4 2.6 5.2 3.3 3.1 2.7 2.5 2.4 3.6 2.0 3.0 -
145 - 3 🇹🇯 Tajikistan Asia 29.4 - - $6,700 - - 🇹🇯 2.9 2.9 4.7 2.7 2.7 2.4 2.7 2.6 3.1 2.2 2.7 -
146 - 3 🇨🇬 Congo Sub-Saharan Africa 29.2 - - $9,790 - - 🇨🇬 4.1 3.1 4.7 2.4 2.4 1.8 2.3 2.3 2.8 1.8 2.3 -
147 96 1 🇧🇼 Botswana Sub-Saharan Africa 29.0 -6.2 35.2 $15,850 -6.0% $16,870 🇧🇼 2.6 2.9 4.6 3.1 2.6 2.6 2.6 2.4 3.2 1.9 2.7 -
148 - 3 🇰🇬 Kyrgyzstan Asia 29.0 - - $7,860 - - 🇰🇬 2.7 2.9 4.7 2.8 2.6 2.4 2.6 2.6 3.2 2.1 2.8 -
149 - 3 🇾🇪 Yemen MENA 28.8 - - $14,390 - - 🇾🇪 3.9 3.2 4.7 2.3 2.2 1.8 2.3 2.3 2.8 1.7 2.0 -
150 - 3 🇨🇻 Cape Verde Sub-Saharan Africa 28.6 - - $1,100 - - 🇨🇻 2.2 2.7 4.6 3.0 3.0 2.4 2.7 2.6 3.4 2.1 2.8 -
72 73
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
151 - 3 🇸🇸 South Sudan Sub-Saharan Africa 28.6 - - $4,950 - - 🇸🇸 3.6 3.1 4.4 2.4 2.3 2.0 2.4 2.4 2.7 1.9 2.4 -
152 - 3 🇦🇫 Afghanistan Asia 28.6 - - $5,080 - - 🇦🇫 6.1 3.1 3.8 1.9 1.8 1.6 2.2 2.1 1.9 1.5 1.8 -
153 - 3 🇲🇷 Mauritania Sub-Saharan Africa 28.5 - - $16,820 - - 🇲🇷 2.7 2.9 4.6 2.6 2.6 2.5 2.6 2.5 3.4 1.9 2.5 -
154 118 1 🇹🇹 Trinidad and Tobago LATAM & Caribbean 28.1 -5.4 33.5 $14,600 -1.7% $14,850 🇹🇹 2.6 2.6 4.7 2.9 3.0 2.2 2.6 2.4 3.3 2.0 2.6 -
155 - 3 🇬🇾 Guyana LATAM & Caribbean 28.0 - - $9,260 - - 🇬🇾 2.5 2.7 4.6 2.8 2.7 2.2 2.6 2.4 3.0 2.1 2.6 -
156 - 3 🇵🇬 Papua New Guinea Oceania 27.9 - - $11,660 - - 🇵🇬 2.8 2.7 4.7 2.7 2.5 2.1 2.4 2.5 3.1 2.1 2.7 -
157 - 3 🇹🇬 Togo Sub-Saharan Africa 27.7 - - $4,270 - - 🇹🇬 2.6 2.8 4.4 2.7 2.5 2.1 2.5 2.4 3.0 2.0 2.5 -
158 - 3 🇬🇲 Gambia Sub-Saharan Africa 27.7 - - $1,300 - - 🇬🇲 2.7 2.7 4.5 2.6 2.5 2.3 2.5 2.6 3.2 1.9 2.5 -
159 - 3 🇬🇶 Equatorial Guinea Sub-Saharan Africa 27.6 - - $3,200 - - 🇬🇶 2.6 2.7 4.5 2.7 2.5 2.3 2.5 2.4 2.9 2.0 2.6 -
160 - 3 🇲🇼 Malawi Sub-Saharan Africa 27.5 - - $10,190 - - 🇲🇼 2.6 2.9 4.5 2.5 2.4 2.2 2.4 2.4 3.2 1.8 2.5 -
161 - 3 🇧🇫 Burkina Faso Sub-Saharan Africa 27.5 - - $8,670 - - 🇧🇫 2.6 2.8 4.3 2.6 2.5 2.2 2.6 2.5 3.0 1.8 2.4 -
162 - 3 🇳🇮 Nicaragua LATAM & Caribbean 27.3 - - $7,680 - - 🇳🇮 3.2 2.9 4.4 2.3 2.2 1.8 2.3 2.3 2.9 1.8 2.3 -
163 - 3 🇬🇼 Guinea-Bissau Sub-Saharan Africa 27.1 - - $910 - - 🇬🇼 2.5 2.8 4.3 2.6 2.5 2.1 2.5 2.5 3.1 1.9 2.5 -
164 - 3 🇰🇲 Comoros Sub-Saharan Africa 27.0 - - $530 - - 🇰🇲 2.2 2.5 4.5 2.7 2.7 2.5 2.6 2.4 3.2 2.1 2.8 -
165 - 3 🇸🇧 Solomon Islands Oceania 26.9 - - $590 - - 🇸🇧 2.1 2.5 4.3 2.9 2.4 2.3 2.7 2.6 2.8 2.3 2.7 -
166 - 3 🇧🇿 Belize LATAM & Caribbean 26.9 - - $1,100 - - 🇧🇿 2.0 2.6 4.3 3.0 2.5 2.2 2.4 2.4 2.9 2.1 2.5 -
167 - 3 🇬🇩 Grenada LATAM & Caribbean 26.9 - - $520 - - 🇬🇩 2.1 2.6 4.4 2.9 2.5 2.3 2.6 2.4 2.8 2.1 2.5 -
168 - 3 🇬🇦 Gabon Sub-Saharan Africa 26.8 - - $6,160 - - 🇬🇦 2.5 2.9 4.3 2.5 2.3 1.9 2.3 2.3 2.6 1.8 2.3 -
169 - 3 🇸🇱 Sierra Leone Sub-Saharan Africa 26.8 - - $2,610 - - 🇸🇱 2.6 2.7 4.4 2.5 2.4 2.1 2.4 2.3 2.9 1.9 2.5 -
170 - 3 🇼🇸 Samoa Oceania 26.7 - - $410 - - 🇼🇸 2.2 2.4 4.4 2.8 2.7 2.3 2.6 2.4 3.2 2.2 2.7 -
171 - 3 🇭🇹 Haiti LATAM & Caribbean 26.6 - - $8,550 - - 🇭🇹 3.9 2.6 4.5 2.1 2.4 1.8 2.1 2.1 2.9 1.7 2.2 -
172 - 3 🇱🇨 Saint Lucia LATAM & Caribbean 26.3 - - $1,760 - - 🇱🇨 1.8 2.5 4.1 3.0 2.6 2.3 2.5 2.4 2.9 2.2 2.5 -
173 - 3 🇧🇮 Burundi Sub-Saharan Africa 26.2 - - $3,110 - - 🇧🇮 2.4 2.7 4.1 2.6 2.2 2.1 2.5 2.4 2.8 1.8 2.4 -
174 - 3 🇸🇹 São Tomé and Príncipe Sub-Saharan Africa 26.1 - - $400 - - 🇸🇹 1.8 2.8 4.0 2.7 2.4 2.3 2.4 2.3 2.7 1.9 2.4 -
175 - 3 🇹🇱 Timor-Leste Asia 25.7 - - $930 - - 🇹🇱 2.0 2.7 4.1 2.4 2.1 2.1 2.4 2.5 2.5 2.1 2.4 -
74 75
2024 (USD mn)
2023 (USD mn)
Communication
Score Change
International
Nation Brand
Nation Brand
Brand Value
Brand Value
Brand Value
Governance
Sustainable
Reputation
Familiarity
& Heritage
Score 2024
Score 2023
Rank 2024
Rank 2023
Education
& Science
Relations
Influence
& Values
Business
Media &
& Trade
Region
Change
Culture
Medals
People
Future
Index
Index
Index
176 - 3 🇹🇩 Chad Sub-Saharan Africa 25.7 - - $4,430 - - 🇹🇩 2.6 2.5 4.0 2.5 2.2 2.0 2.5 2.3 2.7 1.8 2.4 -
177 - 3 🇹🇴 Tonga Oceania 25.5 - - $230 - - 🇹🇴 1.9 2.4 4.0 2.7 2.4 2.2 2.5 2.5 2.7 2.2 2.5 -
178 - 3 🇦🇬 Antigua and Barbuda LATAM & Caribbean 25.5 - - $810 - - 🇦🇬 1.8 2.4 4.0 2.9 2.5 2.3 2.6 2.5 2.9 2.1 2.4 -
179 - 3 🇸🇴 Somalia Sub-Saharan Africa 25.2 - - $10 - - 🇸🇴 4.4 2.5 3.9 1.9 1.9 1.6 2.0 2.0 2.4 1.5 1.9 -
180 - 3 🇱🇸 Lesotho Sub-Saharan Africa 25.0 - - $1,280 - - 🇱🇸 1.9 2.5 3.9 2.6 2.3 2.2 2.4 2.3 2.7 1.8 2.3 -
181 - 3 🇸🇷 Suriname LATAM & Caribbean 24.8 - - $2,200 - - 🇸🇷 2.0 2.4 4.0 2.5 2.2 2.0 2.4 2.4 2.6 2.1 2.4 -
182 - 3 🇲🇭 Marshall Islands Oceania 24.6 - - $220 - - 🇲🇭 1.7 2.3 3.9 2.8 2.2 2.0 2.4 2.4 2.5 2.1 2.5 -
183 - 3 🇵🇼 Palau Oceania 24.3 - - $130 - - 🇵🇼 1.5 2.3 3.6 2.7 2.3 2.1 2.7 2.5 2.4 2.2 2.5 -
184 - 3 🇪🇷 Eritrea Sub-Saharan Africa 24.2 - - $15,950 - - 🇪🇷 2.2 2.5 3.9 2.3 2.2 2.0 2.3 2.0 2.5 1.7 2.2 -
185 - 3 Eswatini Sub-Saharan Africa 24.1 - - $1,960 - - 1.6 2.4 3.6 2.6 2.4 2.2 2.3 2.3 2.6 1.8 2.1 -
186 - 3 🇹🇻 Tuvalu Oceania 23.9 - - $20 - - 🇹🇻 1.5 2.3 3.5 2.6 2.2 2.1 2.6 2.4 2.4 2.2 2.4 -
187 - 3 🇻🇨 Saint Vincent and the Grenadines LATAM & Caribbean 23.8 - - $800 - - 🇻🇨 1.6 2.4 3.6 2.5 2.3 2.3 2.5 2.2 2.4 2.0 2.2 -
188 - 3 🇫🇲 Micronesia Oceania 23.7 - - $170 - - 🇫🇲 1.5 2.2 3.5 2.7 2.2 2.1 2.5 2.4 2.4 2.2 2.4 -
189 - 3 🇩🇯 Djibouti Sub-Saharan Africa 23.7 - - $2,100 - - 🇩🇯 2.1 2.4 4.0 2.3 2.1 1.9 2.2 2.0 2.5 1.7 2.1 -
190 - 3 🇰🇳 Saint Kitts and Nevis LATAM & Caribbean 23.3 - - $800 - - 🇰🇳 1.5 2.3 3.5 2.7 2.1 2.1 2.4 2.2 2.4 2.0 2.2 -
191 - 3 🇻🇺 Vanuatu Oceania 23.2 - - $630 - - 🇻🇺 1.5 2.2 3.4 2.7 2.2 2.1 2.4 2.3 2.4 2.1 2.4 -
192 - 3 🇳🇷 Nauru Oceania 22.6 - - $50 - - 🇳🇷 1.4 2.2 3.4 2.6 2.0 1.9 2.2 2.3 2.0 2.1 2.3 -
193 - 3 🇰🇮 Kiribati Oceania 21.9 - - $90 - - 🇰🇮 1.4 2.1 3.3 2.5 2.0 1.9 2.2 2.3 2.0 1.9 2.3 -
76 77
Brand Finance Network
For more information on our services and valuation experience, please contact your local representative:
Market Contact Email

Africa Jeremy Sampson j.sampson@brandfinance.com
Asia Pacific Alex Haigh a.haigh@brandfinance.com
Australia Mark Crowe m.crowe@brandfinance.com
Brazil Eduardo Chaves e.chaves@brandfinance.com
Canada Laurence Newell l.newell@brandfinance.com
China Scott Chen s.chen@brandfinance.com
East Africa Walter Serem w.serem@brandfinance.com
France Bertrand Chovet b.chovet@brandfinance.com
Germany/Austria/Switzerland Ulf-Brun Drechsel u.drechsel@brandfinance.com
India Ajimon Francis a.francis@brandfinance.com
Italy Massimo Pizzo m.pizzo@brandfinance.com
Mexico Laurence Newell l.newell@brandfinance.com
Middle East Andrew Campbell a.campbell@brandfinance.com
Nigeria Tunde Odumeru t.odumeru@brandfinance.com
Poland Konrad Jagodzinski k.jagodzinski@brandfinance.com
Portugal Pilar Alonso Ulloa p.alonso@brandfinance.com
Romania Mihai Bogdan m.bogdan@brandfinance.com
South America Pilar Alonso Ulloa p.alonso@brandfinance.com
Spain Pilar Alonso Ulloa p.alonso@brandfinance.com
Sri Lanka Aliakber Alihussain a.hussain@brandfinance.com
Sweden Anna Brolin a.brolin@brandfinance.com
Türkiye Muhterem Ilgüner m.ilguner@brandfinance.com
United Kingdom Annie Brown a.brown@brandfinance.com
USA Laurence Newell l.newell@brandfinance.com
Vietnam Quyen Luong q.luong@brandfinance.com
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The world’s most comprehensive research study

on perceptions of nation brands

Insight & Analysis

For all enquiries, please contact: linkedin.com/company/brand-finance

© Brand Finance Plc 2024

© Brand Finance Plc 2024

© Brand Finance Plc 2024

© Brand Finance Plc 2024

Request Identify strengths

Order your custom-prepared Soft Strategy

• Consulting the experts

• The 8 Soft Power Pillars

• Conducting over 170,000

Country? Enhanced measurement

Soft Power rests

 Nation Brand Only - No Fieldwork Belgium

The sample size in each country

© Brand Finance Plc 2024

• China is the fastest-growing this year,

• The United Arab Emirates, Saudi

• Military conflict harms Soft Power,

Hard Power Despite initial widespread and Kiribati (193rd) closing

Israel’s Soft Power has Most other new entrants

• Nation Brand Value:

• The Relationship between

• Developing an Edge as a Nation Brand

• Why Soft Power Matters

Insight by Courtney Fingar, Leading Expert on

Global Soft Power Awards: Identifying Pillars

top nation brands across all metrics 🇨🇳

Switzerland has secured the title of 🇺🇸 🇬🇧 🇩🇪 Influential in diplomatic circles

Recommendation dimensions, aside from the just like Switzerland. 🇮🇹 🇪🇸 🇬🇷 Friendly

🇩🇪 🇨🇭 🇯🇵 Recommendation to buy products and services from

🇬🇧 🇨🇭 🇨🇦 Recommendation to study in as well as nine out of the 35 nation brand

🇮🇹 🇨🇭 🇪🇸 Recommendation to visit ‘influential in arts and entertainment’,

It is noteworthy that each of the winners +Oceania:

Japan leads in most categories, apart

in’, and ‘buy products and services’

appeal as a place to ‘study in’, and the

tourist destination across the region.

Trade pillar give the nation an advantage

© Brand Finance Plc 2024

Nation Brand Value:

rated the least corrupt country in the world by

The Relationship between

In our data, there is a correlation

of r=0.96 between national Sustainable

Turning to the nation brand-level results

performers on a wide range of Soft Power

Sweden, Norway, and the United Kingdom.

The United States once again has the highest

Developing an Edge as a Nation Brand

Why Soft Power Matters

However, embracing regenerative tourism

Florian Kaefer Additionally, the unique tourism models,

The full breakdown of results by nation brand

2024 (USD mn)

2023 (USD mn)

© Brand Finance Plc 2024