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What defines the Nation Brand? The Nation Brand is the amalgamation of all the messages, opinions and perceptions that exist about a country. A Nation Brand can be positive or negative, can be managed but not easily changed. For the most part, the Nation Brand is really just a reputation. It comprises deep-rooted beliefs about a country, any of its cities. How can you alter a Nation Brand? Is it really possible to change the image of a country through conscious effort, similar to a marketing campaign? The answer is yes. One of the best ways to change the perception of a nation is to be informative. Nations that are perceived to be very dangerous for example, can sometimos be misrepresented by the mainstream media. The use of real statistics, such as declining crime rates, can help to reveal the truth about a nation. A strong Nation Brand usually translates to a strong nation. It is often perceived as a Chicken-or-the-egg concept: Does a nation have a stron reputation because it is strong, or is a nation strong because it has a strong reputation? In other words, can a succesful Nation Brand possibly precede a succesful nation? The answer is yes, to an extent. The idea of the brand is demonstrate progress and development, using real facts and messaging that both highlights future change and current successes. Displaying GDP growth, new infrastructure, declining crime rates, declining corruption, improving ease of doing Business, new investor protection laws, and case studies are all great ways to help sell the destination. A strong brand shows what the investor and tourist seek, confirming positive predispositions, and dispelling negative ones. It involves highlighting the strengths that outweigh weaknesses. Having a Nation Brand is a hot topic because of the current economic situation. A country is always looking to grow its economy, and one of the catalysts is foreign investment and spending. Tourists who visit the country generate significant income for some nations, including Spain and France. According to Global Finance magazine, after 2008 FDI inflows to Spain plummeted from US$74,717 million to US$9,737 million. The paucity of foreign inflows restricts future growth significantly. Foreign inflows scale back due to risk aversion, reduced discretionary spending, general economic woe and fears. Consumers need a brightened image of a nation if they are to both invest and spend there. Higher interest rates also limit internal lending and growth. To sum up, the Nation Brand can help bring a country out of recession faster, if there really is quality investments that can be made.
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FDI Strategy, Foreign Direct Investment Strategy, Nation Brand, Impact of Foreign Direct Investment, City Branding,
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