Dubai [UAE], April 14 (/WAM): The UAE has preserved its global leadership in the Nation Brand Performance Index, maintaining first place globally for the second year in a row. The UAE ranked 10th globally in the Nation Brand Strength Index and 16th globally and 1st in MENA in Nation Brand Value Index.
Issued by the world's leading brand valuation consultancy "Brand Finance", the index surveyed more than 100,000 people from 121 countries.
Saeed Al Eter, Deputy Minister of Cabinet Affairs for Strategic Project, and Chairman of the UAE Government Media Office said that the development of the UAE is always supported by a strong and established global brand identity that reflects the ambitions of our leadership, to reach the top in all indicators.
He added: "The UAE's soft power consolidates the country's leading position in various fields and sectors, including economy, space, tourism, advanced technology and culture."
Saeed Al Eter noted that the UAE's leading position in the indices of the Brand Finance Report 2023, comes after surveying opinions of over 100,000 people from 121 countries.
Nation Brand Performance
The UAE ranked first globally in Nation Brand Performance for the second year in a row, achieving 83.5 points. Many reasons stand behind the UAE achievement, including its strategic location as a destination linking Asia, Europe and Africa, its strong financial solvency, and its continued success in implementing economic diversification policies.
UAE ranks 10th globally in Nation Brand Strength
The UAE ranked 10th in the Nation's Brand Strength scoring 78.4 points out of 100. This was supported by the growth of its soft power at the global and regional levels, especially after its remarkable performance in the fields of international relations and good governance.
The strong economic performance in all sectors contributed to the UAE's attainment of advanced ranks in main and sub-indicators, as the gross domestic product (GDP) continues to grow in 2022, in addition to high foreign trade volume. The country's ability to attract foreign direct investment (FDI) from many countries of the world has also increased.
Nation Brand Value
The UAE ranked 16th globally and 1st in the MENA region in the Nation Brand Value Index. The UAE enhanced its position as and most valuable country brand in MENA in 2023 with a Nation Brand Value worth AED3.540 trillion (USD 957 billion).
The strong performance of the UAE economy during the last period contributed to the increase of the Nation's Brand Value, especially with the projections of the UAE Central Bank that the economic growth rate for the year 2022 will reach 7.6 per cent, the highest in more than a decade.
The various oil and non-oil economic sectors have also achieved strong performance during the past year, especially the tourism and hospitality, real estate, transportation, and industry sectors, in addition to a large number of encouraging legislations to promote sustainable growth. (/WAM)
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