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Ranked: The Most Valuable Nation Brands

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Ranked: The Most Valuable Nation Brands

Ranked: The Most Valuable Nation Brands

Talent and capital are increasingly mobile, so a country’s image and reputation — its brand — can have a big impact on the country’s economic fortunes.

This is particularly true in smaller nations such as Singapore, Switzerland, and the United Arab Emirates, which have all cultivated an investment and tourism-friendly image. Whether it’s attracting talent or wooing investment dollars, highly ranked nation brands can often outperform their rivals in the global marketplace.

The effect of a country’s image on the brands based there and the economy as a whole makes a nation brand the most important asset of any state.

– David Haigh, CEO, Brand Finance

Today’s Chart of the Week uses data from Brand Finance’s Nation Brands report, which attempts to quantify the reputations of various countries around the world.

Quantifying Perception

The report breaks down the methodology in more detail, but here how the scoring system works. Brand Finance uses three pillars to calculate a Brand Strength Index (BSI) score:

  1. Goods & Services: Includes factors such as openness to tourism, market size, and trade rules
  2. Society: Includes factors such as quality of life, corruption, and cultural image
  3. Investment: Includes items such as talent retention, use of technology, R&D, taxation, and regulation

The BSI score is then used to calculate a hypothetical royalty rate, and to forecast revenues to ultimately derive a brand value (post-tax revenues discounted to calculate a net present value). This calculation produces the “Brand Value” of a country.

The Most Valuable Nation Brands

One of most impressive gains came from second-ranked China, which is rapidly closing the gap separating them from the United States. China’s brand value surged over 40% to $19.4 trillion — more than the cumulative brand value of the next five countries.

Not to be outdone, the United States also posted impressive numbers. Despite being a mature economy, the country’s brand value grew by 7.2% over the last year.

Here is the full top 10 list:

RankCountryNation Brand ValueChange vs 2018
1🇺🇸 United States$27.8T+7.2%
2🇨🇳 China$19.5T+40.5%
3🇩🇪 Germany$4.9T-5.7%
4🇯🇵 Japan$4.5T+26.0%
5🇬🇧 United Kingdom$3.9T+2.7%
6🇫🇷 France$3.1T-4.0%
7🇮🇳 India$2.6T+18.7%
8🇨🇦 Canada$2.2T-1.8%
9🇰🇷 South Korea$2.1T+6.7%
10🇮🇹 Italy$2.1T-4.7%

Top Countries by Brand Strength

One characteristic of the brand value score is that it’s heavily weighted towards the world’s larger economies. The BSI score, by contrast, may be a more accurate reflection of a government’s guidance of its nation brand as it eliminates the inherent GDP advantage that these bigger economies have.

Using the BSI scoring method, Singapore comes out on top — as it has every year since it supplanted Germany in 2015. The highly prosperous city-state serves as the business hub of Southeast Asia and is renowned for its world-class education, healthcare, transport, and low crime levels. These factors, paired with the nation’s unwavering political stability and commitment to its ‘Future Economy’ strategy, makes the island a very strong and stable nation on the global stage.

The top 10 strongest nation brands:

RankCountryBrand Strength Index (BSI) ScoreChange vs 2018BSI Rating
1🇸🇬 Singapore90.5-1.9AAA+
2🇨🇭 Switzerland89.9-0.3AAA+
3🇳🇱 Netherlands89.6+1.9AAA+
4🇩🇪 Germany88.2+3.5AAA
5🇱🇺 Luxembourg86.9+2.1AAA
6🇦🇪 U.A.E.86.6-1.9AAA
7🇫🇮 Finland86.4-1.0AAA
8🇯🇵 Japan85.8+1.9AAA
9🇺🇸 United States85.7+0.1AAA
10🇩🇰 Denmark85.6+2.6AAA

The United States makes the top 10, but has fallen in the rankings since sitting at fourth place in 2014. That isn’t necessarily an indictment of the U.S. though — the country’s rating has improved somewhat, moving from AA+ to AAA over that same time period.

Turkey was one of the success stories of 2019. The country’s BSI score rebounded by nearly 50% after experiencing a large drop in 2018.

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The Top Retailers in the World, by Store Count

Here are the top retailers in the world by physical store presence, illustrating the dominance of convenience and drug store chains.

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This circle graphic shows the retailers with the highest number of locations worldwide.

The Top Retailers in the World, by Store Count

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Which retail chains have the highest global store counts?

Owing to their rapid speed of service in providing the basics to customers, convenience chains stand as the clear leaders. Going further, their smaller footprint allows them to expand their store counts at a greater scale.

This graphic shows the top retailers in the world by store count, based on data from the National Retailers Federation.

Japanese Retailers Dominate the Pack

Below, we show the global retailers with the most physical storefronts in 2023:

RankingRetailerTotal Stores WorldwideIndustryHeadquarters
1Seven & I40,454Convenience Store🇯🇵 Japan
2FamilyMart24,251Convenience Store🇯🇵 Japan
3Lawson21,902Convenience Store🇯🇵 Japan
4CP All16,042Convenience Store🇹🇭 Thailand
5AS Watson16,014Drug Store🇭🇰 Hong Kong
6Schwarz Group14,112Discount Grocery🇩🇪 Germany
7Carrefour14,014Supermarkets🇫🇷 France
8Couche-Tard13,505Convenience Store🇨🇦 Canada
9Aldi13,475Discount Grocery🇩🇪 Germany
10Walgreens Boots Alliance12,961Drug Store🇺🇸 U.S.

Leading by a wide margin is Japan’s Seven & I Holdings, with 40,454 store locations worldwide.

The retail giant includes the 7-Eleven franchise along with Ito-Yokado, its supermarket chain. While the world’s largest convenience chain traces its origins to Dallas, Texas, the remainder of the U.S-based company (27%) was acquired in 2005 in a $1.2 billion deal that took the company fully private. Today, the company operates in 10 markets globally.

Next in line are Japan’s FamilyMart and Lawson, each boasting over 20,000 locations. For perspective, Walmart, America’s largest retail company by revenues, operates 10,569 locations globally.

In Europe, Germany’s discount grocery chain Schwarz takes the lead, due to its extensive network of stores. Operating across 30 countries and with over 500,000 employees, the no-frills chain stands as a powerhouse. France’s supermarket giant, Carrefour, follows closely behind.

Ranking in eighth is Canadian retailer, Couche-Tard, with stores largely concentrated in North America and Europe. Since 2004, the company has made over 60 acquisitions, including 2,200 gas stations from French oil company TotalEnergies in 2023. The company is known for its Circle K brand, which operates in 24 countries globally.

Closing off the list is Walgreens Boots Alliance, the only American retailer in the rankings. The company owns the ubiquitous UK-based Boots brand, which was founded in 1849 in Nottingham. Yet as profits margins face increasing strains, it is looking to sell the subsidiary and instead focus more heavily on its U.S. pharmacy and healthcare businesses. With a presence in 13 countries, the pharmacy chain operates 12,961 stores worldwide.

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