Brand valuations of countries based on future macroeconomic projections combined with positive prospects of recovery from Covid-19 driving this year's growth.
Brand Finance's 2022 National Brand Value Ranking report is not the aggregate valuation of Vietnamese brands but the national brand valuation of Viet Nam herself.
Viet Nam's significant increase in brand value correlates with the country's growing recognition as a safe and stable investment destination as many manufacturers seek to relocate operations in Asia to Viet Nam.
As a result, Viet Nam scores exceptionally high in agricultural rankings, social media engagement, and the country's response to Covid-19. Each of these factors plays an essential driving role in increasing the nation's brand value.
The report claimed that Viet Nam had seen the third highest increase in brand value during the pandemic in absolute terms. The figure grew from US$184 billion to US$431 billion in 2022 but had the fastest growth in the world in relative value, up 74 percent from 2019.
Even amid trade disruptions caused by China's shutdown and tensions between Beijing and Washington, Viet Nam kept the growth momentum and became an attractive destination for foreign investment, thanks to her successful fiscal and monetary policies and investment in human capital.
According to this report, topping the rankings was the United States, whose brand value increased by 7 percent to US$26.5 trillion. The United States retained her position as the world's most valuable country brand, remaining the leading contender over second-placed China (up 8 percent to US$21.5 trillion).
The report showed that the value of national brands has returned to the pre-pandemic milestone worldwide. The combined value of the world's top 100 national brands reached US$97.2 trillion, up 7percent year-on-year and just slightly below the pre-pandemic value of US$98.0 trillion in 2019./.