Bangladesh's brand value more than twice of Pakistan, 10 times of Sri Lanka

Infographic: TBS

Bangladesh's brand value rose by a record 37% to $508bn in 2023, up from $371 billion in 2022, according to Brand Finance, a chartered accountancy firm regulated by the Institute of Chartered Accountants in England and Wales.

"Bangladesh emerges as one of the fastest-growing nation brands in the ranking, recording 37% year-on-year growth," reads a report published on Global Soft Power Index 2023 by the Uk-based firm. 

As per the report, Bangladesh's brand value in 2023 is $508 billion, which is more than twice the value of Pakistan ($232 billion) and over ten times compared to that of Sri Lanka ($48 billion).

Meanwhile, India topped the brand value list in South Asia with a whopping $2,924 billion.

With the latest ranking, Bangladesh is now the 97th Soft Power nation up from 105 out of 121 countries. 

Calling Bangladesh one of the finest economies, the brand valuation consultancy said, "The Bangladesh economy is one of the finest examples of remarkable economic development and is the World Bank's proclaimed model for 'poverty reduction'.

"As Bangladesh gains global appreciation as one of the fastest-growing South Asian economies, its nation brand sees the highest increase in value and ranking within the 2023 ranking," it added.

Germany, Japan, India, United Kingdom, France, Canada, Italy, and South Korea have consistently ranked in the top 10 of Brand Finance's rankings over the years.

Highlights from this year's Global Soft Power Index 2023:

• Russia's reputation plummets sending it down the ranking
• Ukraine sees strongest soft power improvement this year
• Stable results for the top 3 superpowers: US, UK, Germany
• Japan swaps places with China in the top 5
• The UAE enters the top 10 for the first time
• Nordic nations benefit from sustainability perceptions
• The top 30 without Latin American or Sub-Saharan African nations
• Sri Lanka sees steepest fall in ranking following crisis