The coronavirus pandemic has wiped US$13.1 trillion of brand value from the top 100 most valuable nation brands in the world, according to the latest Brand Finance report.
The Brand Finance Nation Brands 2020 ranking report released today found that the loss takes the top 100 nation brands’ value from US$98 trillion in 2019 to US$84.9 trillion in 2020.
Almost every nation has been significantly impacted by the pandemic, however Australia managed to retain its 12th position in the ranking, following a 20% brand value loss to US$1.3 trillion.
“Australia’s reputation has been enhanced through its relatively successful management of the coronavirus,” says Mark Crowe, Brand Finance Australia MD.
“It is incumbent on the Federal and State governments to lead the economy recovery and capitalise on suppressing the virus, by providing business incentives, encouraging consumer spending, and opening international borders where it is safe to do so.
“Australia is well positioned to increase its brand value and global ranking.”
Meanwhile, second in the ranking is China, which continues to close the gap behind the US, with a brand values of US$18.8 trillion and US$23.7 trillion, respectively.
Long-standing leader the US, has recorded a 14% brand value loss to US$23.7 trillion, with Amazon, Google, Apple, and Microsoft claiming four of the top five spots in the year’s Brand Finance Global 500.
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