New Zealand’s brand value shot up 13% from 2021, according to global rankings released overnight.
Brand Finance Nation Brands valued New Zealand’s national brand at US$248 billion in 2022, an increase of US$29 billion on the prior year.
The annual Nation Brands report is a study into the world’s top 100 nation brands ranked by their value and strength. It has been providing key benchmarks for diplomats, tourism boards, trade agencies, geographical indication brands, nation brand managers and consultants for nearly two decades.
This rise is one of the largest of any country, with Brand New Zealand’s ranking moving up three places to become the 39th most valuable.
While the COVID-19 pandemic hit many other countries’ national brands hard, New Zealand’s brand value rose 11 percent from a pre-pandemic valuation. The rankings also place New Zealand at number 13 (of 100 countries) on the Nation Brand Strength leader-board, which combines statistics and perceptions research.
Brand Strength is calculated based on investment in nation brand (25 percent weighting), public perception of nation brand (50 percent weighting), and performance of nation brand (25 percent weighting).
David Downs (pictured), Chief Executive of the government agency responsible for New Zealand’s nation branding, NZ Story Group, says the brand value increase further recognises the country’s outstanding pandemic response. “Effective virus containment paved the way for economic growth, particularly now that our borders have reopened. To add a bit of perspective, brand New Zealand is now worth more than McDonald’s.”
New Zealand’s high brand strength score is underpinned by a high sub-score of 85.2 for public perception, ranking 8th in this sub-category. Downs was pleased with this recognition, noting that “this indicates a strong preference for the New Zealand brand both overseas and domestically.”
“The world associates brand New Zealand with integrity, ingenuity, care, and respect. As our exporters gear up to meet renewed global demand and our tourism and education sectors welcome the return of overseas visitors and students, confirmation of this ranking further strengthens the message that New Zealand is well and truly open for business.”