Middle Eastern nations, which have made significant efforts in nation brand building, have seen the strongest improvement in their Soft Power over the past five years, says Brand Finance at Davos.

 

Middle East nations including the UAE (up eight ranks) all show notable improvements in International Relations and Business and Trade perceptions, says Brand Finance’s key insights from the latest analysis of five-year trends in perceptions of nation brands captured by the Global Soft Power Index.

 

The session at the UAE pavilion in Davos was attended by Chipoka Mulenga MP, Minister of Commerce, Trade and Industry of the Republic of Zambia; David Haigh, Chairman and CEO of Brand Finance; Thebe Ikalafeng, Chairman of Brand Africa; and Sithembile Ntombela, Acting CEO of Brand South Africa, a WAM report said.

 

Effective tool

The UAE adopts soft power as an effective tool to highlight the achievements and successes achieved during its development journey. During 2023, the UAE topped the countries of the region and the Arab world in the Global Soft Power Index, a step that reflects the positive influence and reputation the UAE enjoys.

 

The analysis of five years' worth of data highlights the rapidly growing importance of building positive Business and Trade perceptions amidst ongoing economic challenges. The 'strong and stable economy' attribute has emerged as the primary driver of a nation's Reputation and Influence – key building blocks of Soft Power, while 'products and brands the world loves' and 'easy to do business in' also secure top positions.

 

The importance of Business and Trade attributes has contributed to faster growth in Soft Power for large nations like the US and China.

 

In 2024, for the first time, Brand Finance researched all 193 member states of the United Nations, with 72 new entrants to this year's ranking. The fifth edition of the Global Soft Power Index will be published at the Global Soft Power Summit 2024 in London on February 28 and 29.--TradeArabia News Service