Brand Finance is proud to present the 2025 Nation Brand Value ranking – marking the 21st edition of this landmark study.

Nation brand value represents the monetary worth of a country's reputation and image, shaped by its economic performance and global standing.

Assessing a nation’s brand value requires analysing its financial strength and influence in the global marketplace. A key component of this evaluation is the Global Soft Power Index (GSPI), as nation brand perceptions drive economic benefits and enhance nation brand value.

To assess the financial strength of a nation brand, Brand Finance utilizes publicly available, reputable data sources, including the IMF, World Bank, and UN. This year, Brand Finance has incorporated Oxford Economics as a key data provider in order to offer a more refined and segmented analysis of nation brand values. Moving beyond broad overviews, we have examined over 40 key sectors contributing to GDP across more than 70 leading nations. This approach offers a deeper and more precise understanding of the forces shaping a nation’s brand value. For nation brand managers and policymakers, this translates to a game-changing level of insight: the ability to identify high-potential sectors, target investment effectively, and craft data-driven strategies to elevate your nation's brand globally.

Before exploring the results of the leading nation brands in 2025, let us first examine the broader trends shaping the global economy.

A world of divergence and uncertainty

The IMF’s World Economic Outlook (WEO), which was released in January 2025, identifies the theme for the year to be “Divergent and Uncertain”. The global economy is projected to expand by 3.3% in both 2025 and 2026.

While this figure remains unchanged since WEO’s last update, the stability masks underlying shifts, including an upward revision for the United States offsetting downward revisions in other major economies. Global headline inflation is expected to decrease to 4.2% in 2025 and 3.5% in 2026, with advanced economies returning to their inflation targets sooner than developing economies.

The IMF identifies that the near-term economic outlook faces varied risks. The United States economy might surpass expectations, while other countries face potential setbacks due to policy uncertainty. Medium-term risks are "tilted to the downside," meaning there is a greater probability that the actual economic outcomes will be worse than the baseline projections. Managing these risks requires careful policy decisions to balance inflation and economic activity, strengthen financial resilience, and implement structural reforms.

Shifting fortunes in the top 20: Nation Brand dynamics in 2025

The United States continues its reign as the world's most valuable nation brand. In 2025, its brand value reached a staggering $37.3 trillion, a 16% increase. This impressive growth is underpinned by the nation's strong economic performance in 2024, during which the United States achieved a real GDP growth of 2.8%. The United States’ economic vitality, fuelled by robust consumer spending and innovation, translates directly into global Influence, enhanced nation brand perceptions and attractiveness for investment and talent.

China retains its position as the second most valuable nation brand, with marginal uplift in brand value by 3%. Despite economic challenges, including a property market slowdown and weak consumer confidence, Chinese corporate brands and the nation brand continue to expand their global influence through rising Soft Power. This highlights the increasing importance of nation brands as strategic assets, with China actively leveraging Soft Power to sustain and enhance its global standing amid economic pressures.

Whilst Germany retains its rank as the third most valuable nation brand, Japan's sluggish economic growth has allowed the United Kingdom to overtake it, now securing fourth place. The IMF forecasts the UK’s GDP to grow in 2025, making it the third-fastest growing economy in the G7. However, uncertainty remains. While the UK is set to outpace major European economies like Germany, France, and Italy, several other European countries, including Poland and Spain, are expected to grow at a faster rate.

Reflecting this momentum, both Spain and Poland have climbed two places in the ranking, with Spain entering the top 10 in the Nation Brand Valuations.

Spain's strong economic performance is fuelled by a booming tourism sector, a resilient labour market, and effective deployment of EU recovery funds. Poland, meanwhile, is benefiting from rising wages, government support for families, and easing inflation, all of which are driving increased private consumption.

India’s nation brand value has declined by 6%, with GDP growth expected to slow due to a combination of domestic and global factors. Weakness in manufacturing and services, along with reduced government spending, is contributing to the slowdown.

Additionally, global trade disruptions and subdued global growth are impacting India’s exports. However, despite these challenges, the economy is still projected to expand at a steady pace, supported by strong domestic demand and a resilient financial sector, allowing India to maintain its position among the top 10 nation brands.

Regional leaders in Nation Brand Value

Europe

Europe saw moderate economic growth in 2024, fuelled by rising employment and growing household disposable income, yet the overall outlook remains cautiously optimistic.

Germany retains its position as the region’s most valuable nation brand, despite facing considerable economic challenges that led to a contraction in 2024.

While a modest recovery is anticipated in 2025, persistent structural issues and global economic uncertainties continue to temper expectations. Germany also records a decline in global Reputation and Influence, as reflected in the Global Soft Power Index. United Kingdom and France record an uplift in brand value led by improving economic outlook in comparison to 2023.

Asia

Asia's economic growth is expected to slow in 2025, with various sources pointing to a lower growth compared to 2024. Escalating geopolitical tensions and trade disputes present risks, particularly for the region's three largest economies – China, Japan, and India. China sees a slight increase in its nation brand value, while Japan and India experience declines. Despite the more subdued economic outlook, China, Japan and India maintain their dominance in the Nation Brand Valuations led by strong Soft Power perceptions.

Americas

As the United States stands in a league of its own, Canada and Mexico remain the second and third most valuable nation brands in the Americas. Canada experiences a positive outlook in its economic growth due to easing monetary policy, stimulating household and business spending. This, combined with the stable performance in the Global Soft Power Index, results in an upward movement in its brand value by 2%.

Mexico records stable nation brand value led by subdued economic outlook, with economic growth expected to be lower than in previous years.

Middle East

In 2024, the Middle East's economy saw modest growth, though uncertainty lingered. The World Bank projected a GDP growth rate of 2.2% for the region, but this was tempered by ongoing conflicts and oil production cuts that have slowed many regional economies. Despite these challenges, countries not directly affected by conflict have seen positive economic outcomes.

The United Arab Emirates stands out with substantial progress, while Saudi Arabia also demonstrates strong economic performance. Our GSPI research underscores that both nations have made significant strides in science and technology, contributing to their overall growth. The UAE's comprehensive policies focused on AI, renewable energy, and space exploration have been key drivers of its economic development. Meanwhile, Saudi Arabia continues to make strategic investments under Vision 2030, prioritizing digital transformation and renewable energy.

Africa

Despite global economic challenges, African nations continue to demonstrate resilience. South Africa remains the region’s most valuable nation brand, retaining its position from 2024. Our research highlights that its overall strength is supported by improvements in Education & Science, reflecting the country's commitment to innovation and the development of a knowledge-based economy.

A spotlight on the fastest growing nation in the top 100

As mentioned earlier, this year’s Nation Brand Value ranking introduces a more detailed segmentation of a nation’s brand value, looking at over 40 sectors that contribute to a nation’s GDP. What does this mean for nation brand managers and policy makers? It highlights the importance of identifying high-potential sectors, directing investment effectively, and developing data-driven strategies to enhance your nation's global brand.

Spain stands out as one of the fastest-growing developed nations, with an impressive 26% increase in its nation brand value. This growth is driven by several key sectors—retail, healthcare, real estate, and professional services—which together account for over 50% of Spain’s nation brand value. Notably, utilities and technology sectors are emerging as the fastest-growing areas, indicating a broader diversification of Spain’s economic strength.

Spain’s rising brand value is also bolstered by the presence of leading corporate brands, such as Santander, Zara, BBVA, Iberdrola, and Movistar. These influential global brands play a pivotal role in shaping global perceptions of Spain, contributing significantly to its reputation as a competitive and innovative nation. Their international success reinforces Spain’s image and strengthens its position on the global stage, particularly in the areas of fashion, finance, telecommunications, and energy.

This refined segmentation of nation brand value highlights how a nation’s economic sectors, corporate leaders, and global perceptions are interconnected. By leveraging these insights, nation brand managers can more effectively shape strategies that foster international recognition and drive sustained growth in the global market.

Nation Brand valuations - a tool for maintaining and measuring global influence

As global trends evolve, understanding how specific sectors contribute to a nation’s reputation and brand value is more important than ever. Despite the uncertain economic outlook, measuring nation brand value remains a vital tool for identifying opportunities, directing investments, and shaping strategies to enhance a nation's standing on the global stage. This ongoing assessment ensures that nations can effectively navigate challenges, build competitive advantages, and foster sustainable growth in a dynamic global economy. Additionally, as Soft Power continues to play an increasingly significant role in shaping perceptions, measuring and managing nation brand value is essential for maintaining global influence and resilience in an interconnected world.

Brand Finance Global Soft Power Index 2025

Explore the findings of the world's most comprehensive research study on perceptions of nation brands, presented in a downloadable report and an interactive dashboard.

A resilient global economy as risks to global growth are being balanced 

The global economy continues to recover slowly from the blows of the pandemic, Russia’s invasion of Ukraine, and the cost-of-living crisis. Despite the disruption in energy and food markets caused by the war, and the unprecedented tightening of global monetary conditions to combat decades-high inflation, the global economy has slowed, but not stalled. 

As the world’s economies navigate the uncertainties surrounding rising inflation, elevated global and geopolitical shocks, understanding a Nation Brand Value and Strength is more important than ever. Here are the results of the 20^th annual iteration of Brand Finance’s ranking of the world’s most valuable and strongest Nation Brands. 

Top 10 Nation Brands record declines 

The economic superpowers continue to dominate the Nation Brand Value ranking, accounting for 73% of the total worth of all the world’s Nation Brands. However, the 2024 ranking records a decline in the top 10 by 3%.  

The United States upholds its status as the dominant global player, preserving its top position since Brand Finance’s first Nation Brand Value ranking publication in 2005. The nation recorded the strongest recovery amongst major economies with its 2023 GDP (Gross Domestic Product) growth exceeding the pre-pandemic path, enabling the United States to record the fastest Nation Brand value growth within the top 10.  

However, this rising momentum was not felt everywhere. Notably subdued growth was recorded in the Euro area, namely Germany, France, and Italy, reflecting weaker consumer sentiment and the lingering effects of high energy prices.  

Additionally, China faces growing headwinds from its real estate crisis and weakening market confidence. These developments, together with slowing industrial production, business investment, and exports have resulted in fading economic growth for the nation, leading to a decline in China’s Nation Brand Value by 14% this year. 

The United Kingdom records the largest decline in Nation Brand Value within the top 10, down by 15%. Growth in the UK was projected to decline in the International Monetary Fund’s October 2023 World Economic Outlook and by the British Chambers of Commerce. Prolonged high-interest rates, trade barriers, particularly with the EU, and limits on consumer spending are all seen to feed into a low-growth climate.  

Mexico benefits as the US brings manufacturing closer to home 

Mexico increases in Nation Brand Value by 29% this year, emerging as the fastest-growing Nation Brand in 2024. The foundation of Mexico’s growth are the carryover effects of stronger than expected domestic demand. The nation was one of the first countries to be described as an emerging market when the term was initially coined, and since then has experienced many classic market disruptions including a series of debt and currency crises. Nevertheless, the country is now enjoying a new growth period, and its stock market has been one of the world’s best performers over the past few years. The primary driver of Mexico’s growth has been the ‘near-shoring’ of US manufacturing, and as of 2023, Mexico became the US’s largest trading partner, ahead of China and Canada.  

The Western Balkans country, Albania records growth of 28%, marginally behind Mexico in relative terms although much more modest in absolute value. The Albanian economy has shown remarkable resilience driven by a strong rebound in tourism. Albania’s economic prospects are expected to remain positive in the upcoming years ensured by resilient private consumption, with notable strength in construction activity.  

Ethiopia is the fastest-growing African Nation Brand this year. It was one the fastest-growing economies in the world last year, recording a 6.1% GDP growth in 2023. The nation is forecast to grow at a rate of 6.2% in 2024, which surpasses not only the anticipated global growth rate of 2.9%, but also outpaces the expected growth rate for the African continent at 4%. Investment in infrastructure and value added sectors of manufacturing and processing, such as textiles and agricultural products, have been key drivers behind the nation’s growth.  

Following Russia’s invasion of Ukraine in 2022, Brand Finance’s Nation Brand Value study recorded a decline in Ukraine’s Nation Brand Value by more than 20%. Almost two years after this invasion commenced, Ukraine’s economic activity is expected to rebound based on the European Commission’s projections. Receipt of international financial assistance, increased business activity, stable operations of its energy production and the sea corridor, as well as the return of refugees have been key driving factors behind Ukraine’s positive outlook. However, it remains subject to the exceptionally high war-related uncertainty. 

Canada remains world’s strongest Nation Brand 

Canada has retained its title as the world’s strongest Nation Brand for the third year in a row, earning a Brand Strength Index (BSI) score of 84.8 out of 100. Canada is internationally perceived as a ‘strong and stable economy’ and is highly rated for its living standards. The nation also boasts a culturally diverse population, and one of the best education systems in the world, factors contributing to the nation topping the rankings for Nation Brand Strength.  

Switzerland is a close second for Nation Brand Strength, retaining its rank from last year. It has consistently ranked 1^st in the Global Soft Power Index in terms of its Reputation for the last five years. In addition to this, the nation has maintained positive perceptions across many other key measures, driven by its economic stability, political consensus, and a historic role as negotiator and peacemaker for other nations.  

Denmark sees fastest-growth within the top 10 for Nation Brand Strength, climbing 5 ranks. Denmark is a frontrunner in sustainable development with a universal health care and strong educational system. The nation has been rated the least corrupt country in the world by Transparency International’s annual Corruption Perception Index for the 6^th year in a row and has consistently been named one of the happiest nations in the world, factors contributing to the nation’s rapid growth within the ranking. 

The United Arab Emirates moves up within the top 10 too, rising to 8^th position this year. The Gulf nation is benefitting from improved perceptions across Business & Trade and Sustainable Future, following its hosting of EXPO 2020 and COP 28. The Emirates has made impressive progress in developing its Nation Brand Strength and Value in recent years and for the first time receives 10/10 marks and top position on the key ‘strong and stable economy’ attribute. 

Singapore moves into the top 10 on Nation Brand Strength. The highly prosperous city-state serves as the business hub of Southeast Asia and is renowned for its world-class education, healthcare, transport, and low crime levels. These factors, paired with the nation’s unwavering political stability and commitment to its economic strategy, firmly position Singapore among the world’s strongest Nation Brands. 

Why does Nation Brand Value matter? 

Understanding your Nation Brand Value and Strength can act as a safety net when navigating the highly fragmented geoeconomic environment of today. It ensures that a nation’s brand plays to its strengths across each of the key sectors of the economy, paving the way to positive economic benefits.  

Brand Finance’s Nation Brand Value analysis, combined with the Global Soft Power Index, provides a robust tool that enables countries globally to track the relationship between their perceptions and performance. This provides Nation Brand management teams with insights to leverage their most important asset in order to further the economic development and strategic goals of a nation in the long-run. 

Global Soft Power Index 2024

Explore the findings of the world's most comprehensive research study on perceptions of nation brands, presented in a downloadable report and an interactive dashboard.

What difference does a nation brand make?

Nation branding is about how a country positions and promotes itself. It is an important asset that enables countries to differentiate their economic activity, people, and tourism in a global marketplace. Countries globally are becoming increasingly cognizant of the value of their nation brand as an asset. Understanding the value of a nation brand involves perceptions research and financial analysis.

The strength of a nation brand is affected by its Soft Power perceptions and building a nation’s Soft Power allows to bring economic benefits to a country, driving its nation brand value. Along with the Global Soft Power Index, Brand Finance has been tracking and publishing an annual ranking of the world’s most valuable and strongest Nation Brands for almost 20 years.

How is Nation Brand Value measured?

Brand Finance’s approach to valuing a nation brand is an adaption of the ISO 10668 Brand Valuation standard, based on the royalty relief mechanism employed to value the world’s largest corporate brands. To understand the value of a nation brand we look at two key areas: the financial performance (GDP) of the nation and the strength of the nation in the global marketplace. Whilst it is easier to compare the financial and economic performance of nations, assessing the strength can be a slightly more complex undertaking.

Nation Brand Strength in detail

The Nation Brand Strength, a score given from 0 to 100, allows us to understand the relative strength of a nation in the global marketplace. This plays a crucial role in calculating the value of the nation brand. It is the part of our analysis most directly and easily influenced by those responsible for their country’s nation branding initiatives. Nation Brand Strength is determined through a balanced scorecard of metrics evaluating brand investment, brand perceptions, and brand performance.

Nation Brand Investment looks at what assets the nation brand has compared to competing countries that would help it generate positive perceptions.

The investment pillar includes key metrics across Business & Trade, Governance, International Relations, Culture & Heritage, Media & Communications, Education & Science, People & Values, and Sustainable Future, just like the Global Soft Power Index.

The investment pillar is informed by statistical data derived from reputable public sources such as the United Nations, World Bank, and the Global Innovation Index.

Nation Brand Perceptions are the domestic and international perceptions about the nation brand. The perceptions pillar is based on the results of Brand Finance’s Global Soft Power Index.

Stakeholder perceptions are a central requirement to carrying out an accurate brand valuation and therefore Nation Brand Perceptions account for 50% of the overall Nation Brand Strength. Brand Finance’s Global Soft Power Index results therefore sit at the heart of the Nation Brand Strength assessment and Nation Brand Value calculations.

Finally, Nation Brand Performance looks at how well is the nation brand performing versus competitors. The performance pillar focuses on macroeconomic standing, as well as the four key business areas where the nation brand has the most impact: trade, investment, tourism, and talent.

The performance pillar is informed by statistical data derived from reputable public sources such as the United Nations, International Monetary Fund, and Euromonitor.

The Nation Brand Strength scorecard is designed to mirror the brand-building process. It naturally follows, that if you invest in your brand, you expect to see a return in brand perceptions, both amongst domestic and international audiences. This ultimately leads to an uptick in the nation’s economic activity and performance. For example, investment in the nation brand via improving trade policies or investment in infrastructure can positively impact perceptions towards the nation brand, generating Soft Power.

This in turn can result in increased FDI into the country and improved economic activity driving overall performance.

By maximising Nation Brand Strength across this chain, i.e. investment to perceptions to performance, a nation brand can maximise its positive impact on a global platform and therefore overall Nation Brand Value.

Rapid economic growth can place a nation brand in the spotlight. Bangladesh emerges as one of the fastest growing nation brands in the ranking, recording 37% year on year growth.

The Bangladesh economy is one of the finest examples of remarkable economic development and is the World Bank’s proclaimed model for “poverty reduction”.

As Bangladesh gains global appreciation as one of the fastest-growing South Asian economies, its nation brand sees the highest increase in value and ranking within the 2023 ranking.

Large economies that are characterised by abundant resources to develop and invest in the economy, emerge as leaders on the Nation Brand Investment score. The United States leads with a score of 84.7. Investment towards Business & Trade, International Relations through development aid, as well as Education & Science are the key driving forces behind this score.

Whilst the US leads on Nation Brand Investment, Canada takes leadership on Nation Brand Perceptions amongst both international and domestic audiences with a score of 92.3.

Canada boasts one of the highest living standards in the world driven by a strong economy, culturally diverse population, and one of the best education systems in the world. Strong nation brand perceptions have also resulted in Canada holding the coveted title of the world’s strongest nation brand overall for the second year in a row.

The United Arab Emirates continues to outperform others on Nation Brand Performance score, retaining leadership for the second year, with a score of 83.5. Strategic location between Asia, Europe, and Africa, strong financial reserves, progressive policies on economic diversification, and increased FDI are some of the key factors behind the UAE’s leadership.

The UAE is closely followed by Singapore. Singapore, touted as Asia’s powerhouse, has consistently been viewed as one of the most stable economies in the world driving its score in Nation Brand Performance.

Nation Brand Value and Nation Brand Strength are effective tools to track and assess a nation brand’s performance in a global context. As highlighted, this undertaking goes beyond an assessment of economic strength but also looks at international and domestic perceptions.

Nation brands exist to differentiate and elevate a country in the global marketplace. By measuring and understanding their performance, nation brand management teams can leverage one of their most important assets to further the economic development and strategic goals ofa country in the long run.

Global Soft Power Index 223

Explore the findings of the world's most comprehensive research study on perceptions of nation brands, presented in a downloadable report and an interactive dashboard.

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