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Brand Finance launches Nation Brands 100

24 November 2011
This article is more than 12 years old.
  • Brand United Kingdom stays strong as the continent collapses
  • The Top 100 Nation Brands have been ranked by Brand Finance plc with the USA, Germany and China topping the report.
  • Eurozone crisis affects the Nation Brand vales of Greece, Ireland and Japan who are ranked as the Top 3 biggest Losers
  • Further chaos in Europe has seen the brand values of Spain, Austria, Italy and Hungary plummet.
  • Developing nations such as Croatia, Estonia and Turkey emerge as brand success stories of 2011 against a backdrop of an uncertain economy.

Click here to view the full Brand Finance Nation Brands 100.

Brand UK remains an island of stability as our continental counterparts collapse

Despite the London riots and talk of a double dip recession, the United Kingdom remains a steady brand and keeps its position as the 5th most valuable Nation Brand thanks to the success of the Royal Wedding and the upcoming Olympics in 2012.

Most of the Top 10 Losers are victims of the Eurozone Crisis

Greece, Ireland, Spain, Austria, Italy and Portugal all feature in the Top 10 Losers and have all fallen down the table. Greece and Ireland have been hardest hit with each nation shedding 40% of their brand value. The EU’s total brand value fell by 4% as confidence in the bailout system and continental governments remains at an all time low.

Despite being Number 1 Brand USA suffers from a difficult year

The worlds most valuable nation, the USA, had a very bad year in 2011. The US lost over half a trillion dollars in value and downgraded from a brand value of AA to AA- and now had a lower brand rating than neighbouring Canada.

Developing countries gain the upper hand as the West struggles

2011 has seen nation brands such as Croatia, Turkey and Estonia feature in the Top 10 Winners for the first time. Whilst the majority of the continent struggles with the global financial crisis, previously developing nations have now emerged as stable and business friendly countries compared to their European counterparts.

A devastating year tarnishes Japan’s brand value

Following the tragic earthquake and nuclear disaster in Japan, the country’s brand value dropped by $679 billion. Slow growth, recession and a shrinking work force has severely hampered the nation which saw the largest drop in its brand value.

The Brand Finance Nation Brand 100

As the world struggles with economic turmoil, the Brand Finance Nation Brands 100 reveals the startling affect the current climate has had on the brand value of 100 countries. However whilst some countries have slid down the league table, 2011 has been a year for developing countries to emerge victorious against a backdrop of an uncertain economy.

Nation brand values are produced through a detailed analysis of economic data, perceptual market research data and infrastructure measures producing a combined score out of 100. The report combines a wide range of economic, demographic and political factors and is based on in-depth research by Brand Finance’s global network of offices.

Top 10 Nation Brands 2011

  1. USA
  2. Germany
  3. China
  4. Japan
  5. United Kingdom
  6. France
  7. Italy
  8. Canada
  9. India
  10. Brazil

For further information contact:

James Baker

PR and Media Relations Executive

t: +44 (0) 20 7389 0400

Media Contacts

Penny Erricker
Communications Executive
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.


Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

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