It is generally considered good business practice for a company to invest in its brand. A positive brand image typically results in a more loyal customer base and an overall increase in profit. Likewise, nations have brands, and the reputation of a country has an economic impact on its gross domestic product (GDP).https://repository.upenn.edu/pennwhartonppi_bschool/1011/thumbnail.jp

Reibstein, David J

English

Kosmopolis

University of Pennsylvania
ScholarlyCommons
Wharton PPI B-School for Public Policy Seminar
Summaries Wharton Public Policy Initiative
Fall 9-25-2019
Summary: Economic Return of Nation Brands
David J. Reibstein
University of Pennsylvania
Follow this and additional works at: https://repository.upenn.edu/pennwhartonppi_bschool
Part of the Economic Policy Commons, International Economics Commons, Marketing
Commons, Other Public Affairs, Public Policy and Public Administration Commons, Political
Economy Commons, Public Affairs Commons, Public Relations and Advertising Commons,
Regional Economics Commons, and the Social Influence and Political Communication Commons
This paper is posted at ScholarlyCommons. https://repository.upenn.edu/pennwhartonppi_bschool/12
For more information, please contact repository@pobox.upenn.edu.
Recommended Citation
Reibstein, David J., "Summary: Economic Return of Nation Brands" (2019). Wharton PPI B-School for Public Policy Seminar
Summaries. 12.
https://repository.upenn.edu/pennwhartonppi_bschool/12
Summary: Economic Return of Nation Brands
Summary
It is generally considered good business practice for a company to invest in its brand. A positive brand image
typically results in a more loyal customer base and an overall increase in profit. Likewise, nations have brands,
and the reputation of a country has an economic impact on its gross domestic product (GDP).
Keywords
GDP, nation, brand, regional brands, best country rankings
Disciplines
Economic Policy | International Economics | Marketing | Other Public Affairs, Public Policy and Public
Administration | Political Economy | Public Affairs | Public Relations and Advertising | Regional Economics |
Social Influence and Political Communication
This book is available at ScholarlyCommons: https://repository.upenn.edu/pennwhartonppi_bschool/12
Better-informed policymaking through a deeper 
understanding of economics.
More on classes: 
http://bit.ly/BSchoolPublicPolicy 
Monthly
90-Minute
Sessions
on Capitol Hill
Summary: Economic Return on Nation Brands
Seminar by Professor David J. Reibstein
It is generally considered good business practice for a company to invest in its brand. A positive brand 
image typically results in a more loyal customer base and an overall increase in profit. Likewise, nations 
have brands, and the reputation of a country has an economic impact on its gross domestic product 
(GDP). 
WHAT IS A BRAND? 
A brand is an amalgamation of perceptions, experiences, and 
feelings that consumers have about an organization or company 
and the services or products it offers. A company’s brand is 
not necessarily objective or accurate and can be influenced by 
uncontrollable forces but it is an important factor in how individuals 
perceive, respond to, and interact with an entity.  Therefore, 
successful companies invest a lot of resources into managing their 
brand, nurturing positive consumer perceptions, and correcting 
misperceptions.
ECONOMICS AND BRAND 
Geographical regions have successfully invested in marketing 
campaigns to shape perceptions. Familiar examples of geographic 
branding include: “I Love New York,” “Virginia is for Lovers,” and 
the Las Vegas slogan, “What Happens in Vegas Stays in Vegas.” 
Nation brands can also influence how people view products from 
that nation. For example, Germany has such a strong nation brand 
with respect to German engineering, that any association with 
that nation is worth publicizing. Conversely, a negative geographic 
brand can have a negative impact and companies might try to avoid 
association with that region. The VW emmisions scandal that 
began in 2015 cost $71B to the economy directly but could hurt the 
brand and reputation of Germany more generally, resulting in wider 
economic ramifications.
“The value of a nation’s brand 
can be correlated to factors that 
contribute to economic prosperity 
or GDP per capita. For instance, 
a nation’s brand impacts tourism, 
foreign direct investment, and 
foreign trade.
777 6th Street, NW, Washington, DC 20001      |      202-870-2655     |      publicpolicy@wharton.upenn.edu      |     @PennWhartonPPI
“BEST COUNTRIES” STUDY 
Professor David Reibstein’s Best Countries study, done in 
partnership with U.S. News and World Report and WPP, was first 
conducted in 2015, with the report released at the 2016 World 
Economic Forum in Davos, Switzerland. The study has been 
repeated annually, with results from the first three years currently 
available on the “Best Countries” website:  
https://www.usnews.com/news/best-countries
The report and rankings are based on how global perceptions 
define countries in terms of a number of qualitative characteristics, 
impressions that have the potential to drive trade, travel, and 
investment and directly affect national economies. The report 
covers perceptions of 80 nations, based on a survey of over 21,000 
people across the globe. Each country was scored on 65 different 
attributes. Attributes were grouped into nine sub-rankings that 
rolled into the Best Countries ranking. (See callout box for a listing.)
The U.S. continues to be seen as the world’s most dominant 
economic and military power, with a cultural imprint that spans 
the world. But the data suggest that since 2016, global perceptions 
of the U.S. have been changing. The country is viewed to be less 
progressive and trustworthy, and more politically unpredictable, 
than before.  
Case Example: “Come Back to Jamaica”
Jamaica’s economy is almost entirely dependent on tourism. 
Beginning in the 1960’s, the Jamaican Government engaged 
in a series of sophisticated branding campaigns to combat 
the country’s negative reputation as an unsafe place, which 
had resulted from an increase in crime. Safety and adven-
ture are two variables that directly impact tourism. Issued 
through the tourism board, the campaigns intended to 
redefine Jamaica as a tourist destination. ‘Come to Jamaica’ 
(1960-1963), ‘Come Back to Jamaica’ (1963-1975), ‘Discover 
Jamaica - We are More Than a Beach’ (1975-1984), ‘Make It 
Jamaica Again’ (1984-1994), ‘One Love’ (1994-2003), ‘Once 
You Go You Know’ (2003-2013) and the recent ‘Jamaica 
- Get All Right’ (2013-present) - reveal a marketing focus 
largely on the aesthetics and recreational aspects of Jamaica. 
The “Come Back to Jamaica” campaign had a concrete 
impact on trouism. In 1965, 208 groups visited Jamaica 
compared to 55 in 1964.
The U.S. ranked #8 overall in the 2018 Best Countries report--down 
from #7 in 2017 and #4 in 2016. The sub-rankings for the U.S. in 
2018 were as follows:
POLICY AND BRAND MANAGEMENT
There are policy actions that legislators can take that will directly 
impact that brand and the economy. If a country wants to improve 
their brand, they can use the Best Countries data to assess what 
dimensions they perform poorly on and what dimensions they want 
to change. Through strategic policy decisions and good communi-
cation, governments can improve the perception of their country 
and, thus, improve their economy.
9 Sub-Rankings that were Rolled into the Best 
Countries Ranking
• Adventure (friendly, fun, pleasant climate, scenic, sexy)
• Citizenship (leading the world by example)
• Cultural Influence (prestigious in art, entertainment, 
fashion, and other cultural offerings)
• Entrepreneurship (innovative, access to capital, etc.)
• Heritage (rich history and cultural appeal)
• Movers (predicted future growth in terms of GDP PPP)
• Open for Business (business friendly, balancing 
stability and expense)
• Power (international economic, political, and military 
influence)
• Quality of Life (income equality, quality education and 
health systems, affordable, political stability)
Figure 1: U.S. Rankings, 2018


Summary: Economic Return of Nation Brands

ScholarlyCommons@Penn

University of PennsylvaniaScholarlyCommonsWharton PPI B-School for Public Policy SeminarSummaries Wharton Public Policy InitiativeFall 9-25-2019Summary: Economic Return of Nation BrandsDavid J. ReibsteinUniversity of PennsylvaniaFollow this and additional works at: https://repository.upenn.edu/pennwhartonppi_bschoolPart of the Economic Policy Commons, International Economics Commons, MarketingCommons, Other Public Affairs, Public Policy and Public Administration Commons, PoliticalEconomy Commons, Public Affairs Commons, Public Relations and Advertising Commons,Regional Economics Commons, and the Social Influence and Political Communication CommonsThis paper is posted at ScholarlyCommons. https://repository.upenn.edu/pennwhartonppi_bschool/12For more information, please contact repository@pobox.upenn.edu.Recommended CitationReibstein, David J., "Summary: Economic Return of Nation Brands" (2019). Wharton PPI B-School for Public Policy SeminarSummaries. 12.https://repository.upenn.edu/pennwhartonppi_bschool/12Summary: Economic Return of Nation BrandsSummaryIt is generally considered good business practice for a company to invest in its brand. A positive brand imagetypically results in a more loyal customer base and an overall increase in profit. Likewise, nations have brands,and the reputation of a country has an economic impact on its gross domestic product (GDP).KeywordsGDP, nation, brand, regional brands, best country rankingsDisciplinesEconomic Policy | International Economics | Marketing | Other Public Affairs, Public Policy and PublicAdministration | Political Economy | Public Affairs | Public Relations and Advertising | Regional Economics |Social Influence and Political CommunicationThis book is available at ScholarlyCommons: https://repository.upenn.edu/pennwhartonppi_bschool/12Better-informed policymaking through a deeper understanding of economics.More on classes: http://bit.ly/BSchoolPublicPolicy Monthly90-MinuteSessionson Capitol HillSummary: Economic Return on Nation BrandsSeminar by Professor David J. ReibsteinIt is generally considered good business practice for a company to invest in its brand. A positive brand image typically results in a more loyal customer base and an overall increase in profit. Likewise, nations have brands, and the reputation of a country has an economic impact on its gross domestic product (GDP). WHAT IS A BRAND? A brand is an amalgamation of perceptions, experiences, and feelings that consumers have about an organization or company and the services or products it offers. A company’s brand is not necessarily objective or accurate and can be influenced by uncontrollable forces but it is an important factor in how individuals perceive, respond to, and interact with an entity.  Therefore, successful companies invest a lot of resources into managing their brand, nurturing positive consumer perceptions, and correcting misperceptions.ECONOMICS AND BRAND Geographical regions have successfully invested in marketing campaigns to shape perceptions. Familiar examples of geographic branding include: “I Love New York,” “Virginia is for Lovers,” and the Las Vegas slogan, “What Happens in Vegas Stays in Vegas.” Nation brands can also influence how people view products from that nation. For example, Germany has such a strong nation brand with respect to German engineering, that any association with that nation is worth publicizing. Conversely, a negative geographic brand can have a negative impact and companies might try to avoid association with that region. The VW emmisions scandal that began in 2015 cost $71B to the economy directly but could hurt the brand and reputation of Germany more generally, resulting in wider economic ramifications.“The value of a nation’s brand can be correlated to factors that contribute to economic prosperity or GDP per capita. For instance, a nation’s brand impacts tourism, foreign direct investment, and foreign trade.777 6th Street, NW, Washington, DC 20001      |      202-870-2655     |      publicpolicy@wharton.upenn.edu      |     @PennWhartonPPI“BEST COUNTRIES” STUDY Professor David Reibstein’s Best Countries study, done in partnership with U.S. News and World Report and WPP, was first conducted in 2015, with the report released at the 2016 World Economic Forum in Davos, Switzerland. The study has been repeated annually, with results from the first three years currently available on the “Best Countries” website:  https://www.usnews.com/news/best-countriesThe report and rankings are based on how global perceptions define countries in terms of a number of qualitative characteristics, impressions that have the potential to drive trade, travel, and investment and directly affect national economies. The report covers perceptions of 80 nations, based on a survey of over 21,000 people across the globe. Each country was scored on 65 different attributes. Attributes were grouped into nine sub-rankings that rolled into the Best Countries ranking. (See callout box for a listing.)The U.S. continues to be seen as the world’s most dominant economic and military power, with a cultural imprint that spans the world. But the data suggest that since 2016, global perceptions of the U.S. have been changing. The country is viewed to be less progressive and trustworthy, and more politically unpredictable, than before.  Case Example: “Come Back to Jamaica”Jamaica’s economy is almost entirely dependent on tourism. Beginning in the 1960’s, the Jamaican Government engaged in a series of sophisticated branding campaigns to combat the country’s negative reputation as an unsafe place, which had resulted from an increase in crime. Safety and adven-ture are two variables that directly impact tourism. Issued through the tourism board, the campaigns intended to redefine Jamaica as a tourist destination. ‘Come to Jamaica’ (1960-1963), ‘Come Back to Jamaica’ (1963-1975), ‘Discover Jamaica - We are More Than a Beach’ (1975-1984), ‘Make It Jamaica Again’ (1984-1994), ‘One Love’ (1994-2003), ‘Once You Go You Know’ (2003-2013) and the recent ‘Jamaica - Get All Right’ (2013-present) - reveal a marketing focus largely on the aesthetics and recreational aspects of Jamaica. The “Come Back to Jamaica” campaign had a concrete impact on trouism. In 1965, 208 groups visited Jamaica compared to 55 in 1964.The U.S. ranked #8 overall in the 2018 Best Countries report--down from #7 in 2017 and #4 in 2016. The sub-rankings for the U.S. in 2018 were as follows:POLICY AND BRAND MANAGEMENTThere are policy actions that legislators can take that will directly impact that brand and the economy. If a country wants to improve their brand, they can use the Best Countries data to assess what dimensions they perform poorly on and what dimensions they want to change. Through strategic policy decisions and good communi-cation, governments can improve the perception of their country and, thus, improve their economy.9 Sub-Rankings that were Rolled into the Best Countries Ranking• Adventure (friendly, fun, pleasant climate, scenic, sexy)• Citizenship (leading the world by example)• Cultural Influence (prestigious in art, entertainment, fashion, and other cultural offerings)• Entrepreneurship (innovative, access to capital, etc.)• Heritage (rich history and cultural appeal)• Movers (predicted future growth in terms of GDP PPP)• Open for Business (business friendly, balancing stability and expense)• Power (international economic, political, and military influence)• Quality of Life (income equality, quality education and health systems, affordable, political stability)Figure 1: U.S. Rankings, 2018

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