Thanks to hectic reform efforts by respective governments, the UAE and Saudi Arabia have made noticeable improvements in a newly published country branding list. These results were acknowledged in the “Country Brand Ranking 2012” list released by Bloom Consulting, a strategy consultancy specializing in country branding.
Saudi Arabia improved its ranking by 7 positions to stand on number 16 for Trade, while its rank for Tourism dropped marginally by 2 points to position number 38. The UAE also showed solid performance as it was rated at number 20 for the first time. Qatar (43), Oman (76), Bahrain (77) also made it to the top half of this list.
The global ranking of Gulf countries is expected to improve further in the coming years as governments push for greater market reforms and open their economies for tourism and trade. The indicators of Gulf countries will be buoyed by strong economic performance owing to soaring oil prices, heavy government spending and greater consumer confidence.
The report also recognizes the efforts of Arab governments to promote greater market liberalization and boost its image in the eyes of global community. The improved outlook and rankings are expected to encourage greater private sector investment and spur investment in key areas of the Arab economies.
Overall, USA was again top ranked in the entire world for Trade and Tourism, while the emerging Asian economies continued to make their mark in the top 25 ratings. Europe was also ranked highly in Trade, with 13 out of the top 25 countries coming from that continent. Results of this year show that the performance was well distributed among all continents. Asia performed very well in Tourism as eight countries from the region were rated in the top 25 list.
The report thoroughly measures effectiveness of each country’s brand strategy, while also taking into account the trade and tourism strategies adopted by these countries. The study is based on factual information such as the economic performance, economic growth, annual growth rate of global tourism and foreign direct investment inflow.