Forbes: The value of the 100 leading economies fell by $ 13 trillion this year – The value of the world’s top 100 economies has shrunk by more than $ 13 trillion in 2020, according to the Brand Finance ranking this year.
The only thing that remains unchanged is the US leadership. Despite the crisis or the 14.5% economic downturn in this country, the US was still able to maintain its status as the world’s leading brand and its brand value is $ 23.7 trillion. However, the volume of the US brand is reduced by more than 3 trillion compared to the previous rating.
The second position went to China – worth 18.8 trillion dollars. However, the decrease compared to the 2019 rating is less than $ 1 trillion. While the US and Europe are battling a second wave of pandemics and trying to cope with the economic hardships caused by the widespread spread of the virus, China has been able to contain the virus. In the third quarter of 2020, the country also grew by 4.9%.
As for the third and fourth places, it is shared this year by Japan and Germany. Japan advanced in this case and hit the top three with a value of $ 4 trillion, while Germany, which is the leader in the ranking of brand strength, with a 21.5% decline and $ 3.8 trillion, is still fourth. It is followed by the United Kingdom, France, India and Canada.
As for the top ten, it is surprising that in 2020 Italy advanced by one position and it took ninth place. This promotion took place despite the 10.6% economic decline in the country this year.
South Korea dropped from ninth to tenth place.
Recall that the evaluation of national brands implies a number of different parameters. Including the country’s economy, investment and tourism attractiveness, and political status.
By these criteria, Ireland is the only country in the ranking of the world’s top 100 brands where there is no decline, on the contrary, the value of national brands has increased by 11% or $ 670 billion. Which, for the most part, is the merit of a strong economy of exports and consumer spending. Particularly negative was the pandemic for Argentina, where the largest decline in national brands was recorded at 57%. In reality, however, Argentina was in an economic crisis even before the pandemic. Now its economy will shrink by another 11.8%.