How much is the brand Ukraine worth: the impact of the war on the country's recognition and citation
In recent years, Ukraine has become known around the world not only for its culture and history, but also for events that put it at the forefront of the global community. Find out how much the Ukraine brand is worth now and how current realities affect its popularity
Brands of countries at war traditionally lose value, and Ukraine is no exception: over the past year, its brand lost almost 22% of its value. However, there is good news alongside the negative trends. At the request of Forbes, the analytical company Saturday Team calculated how the value of the Ukraine brand has changed over the first year of the war.
"In 2022, Ukraine has undoubtedly strengthened its national brand in the world," are the opening words of the Report on the Perception of Ukraine in the World in 2022, which was published with the assistance of the Ministry of Foreign Affairs.
Here is how the popularity of the Ukraine brand has changed in recent years and how much it is worth now.
Growth of brand awareness of "Ukraine"
The report on Ukraine's perception in the world in 2022, prepared by the Ministry of Foreign Affairs, shows an incredible increase in Ukraine's recognition in the world.
According to this report, Ukraine has become the second most informed country in terms of its news. And interest in Ukraine, expressed in the intensity of Google searches, has increased by an order of magnitude.
The statistics are as follows:
• 79% - global citizens who have seen, heard or read news about events in Ukraine
• 71% - a significant number of people around the world who have expressed support for Ukraine
• 54% - people who have a better attitude towards Ukraine
Obviously, the war was the main catalyst for this increase in awareness and support. Russia's unwarranted invasion and the heroic resistance of Ukrainians became the main meta-plot for the world in 2022.
Decrease in the value of the Ukraine brand
However, despite the positive trends in recognition, the monetary value of the Ukraine brand has dramatically dropped by 22%. This may seem surprising, but it is worth considering several key factors that affect the country's brand value.
Factors that affect the value of a country's brand
• Economic factor: One of the main indicators of a country's brand value is its economic situation. In Ukraine, GDP fell by 29.1% in 2022. This affected the brand value because the economy is interconnected with the perception of the country in the eyes of the world.
• Security factor: The level of security in a country also matters. Freedom of speech, threats of terrorism, food security, and civil liberties affect perceptions.
• Socio-cultural factor: The development of society, the state of political institutions, human rights, innovation, and other aspects are important for the perception of a country as a brand. Even if the perception of Ukraine in the world has improved, economic aspects can affect the overall brand.
• The factor of business activity: The success of local companies and the attractiveness of the country for business can determine how a country is perceived as an economically important player.
We remind you! Ukrainians continue to support the Armed Forces of Ukraine by volunteering and organizing various events to support the army. Learn more about how famous Ukrainians sell their personal belongings for the sake of the long-awaited Victory.
We recommend purchasing it for a safe and comfortable trip to Ukraine:
Visit Ukraine Insurance - safe travel in Ukraine (insurance covering military risks);
Visit Ukraine Tickets - book bus and train tickets to/from Ukraine;
Visit Ukraine Tours - the largest online database of tours to Ukraine for every taste;
Visit Ukraine Hotels - book hotels for a comfortable stay in Ukraine;
Visit Ukraine Merch - choose patriotic clothing and accessories with worldwide delivery.
Cooperation - cooperation and advertising integrations with Visit Ukraine and Visit World projects.
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26 Sep. 2023More details
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