Australia’s brand value fell 4% to $US1.6 trillion in 2019, according to analysis by Brand Finance.
The average year-on-year nation brand value growth among developing economies is 13.9%.
Australia is ranked 12th in the world for the value of its top 100 brands, down from 11th in 2018. Spain is now ranked ahead of Australia in 11th place.
Analysts at Brand Finance say the main reason for a "slight" decrease in Australia’s brand value is largely due to a fall in long-term growth, partnered with a slight increase in risk, particularly market and investment risk.
GDP growth of 0.5%, for an annual rate of 1.4%, at the second quarter of 2019 was the slowest since the global financial crisis.
"We have seen the Australian government try and offset the slowdown in household consumption and fixed investment by increasing overall spending," the analsyts told AdNews.
"However we are yet to see the outcome reflected in its nation brand value.
"No doubt the strong and stable political and economic environment in Australia will push its brand value up in a positive direction in the coming years."
Australia’s Brand Strength Index score is a healthy at 81.6 out of 100, with a corresponding AAA- brand strength rating, a slight increase compared to last year.
Australia scores high on the society pillar which includes factors such as corruption, the judicial system, security and quality of life.
The top 10 countries for brand value:
Nation brand values of most developed economies have contracted or stagnated year on year, says Brand Finance.
Japan is a notable exception with 26% growth.
“With the Western world seeing a real crisis of leadership on both sides of the Atlantic, the developing world is catching up," says David Haigh, CEO of Brand Finance.
"Bolder, more agile, increasingly innovative African, Middle Eastern, Asian, and Latin American nation brands are racing ahead at breakneck speed, poised for further growth in the years to come.”
Singapore is world’s strongest nation brand with a Brand Strength Index (BSI) score 90.5 out of 100.
“Singapore’s pioneering efforts in human capital development make it an exemplary nation for its high-class healthcare facilities and first-rate education," says Haig. "These are the types of investments which drive the nation’s sustained growth and build brand strength.”
The 10 most valuable brands in Australia:
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.