In today’s globalized world, more and more Countries, Regions and Cities adopt Nation and Place Branding strategies as an indispensable tool for managing their image and reputation, both within and beyond borders.
Even though the reasons for Nation and Place Branding may vary according to the internal reality and the specific objectives of each Country, Region or City, three main advantages of its application can be identified.
1. Aligning perceptions with reality
The way we perceive a particular Country is influenced by various internal and external factors, such as the media, the entertainment industry or even other Countries.
The main objective of Nation and Place Branding strategies is to align international perceptions with reality in order to build, manage and enhance the image and reputation of a Country, Region or a City.
It is about understanding what makes the Country, Region or City unique and special, as well as developing specific activities, policies and projects to build more positive and fair reputation.
2. Creating a vision for the future
Building and maintaining the desired reputation implies understanding how we are viewed today and how we want to (and can) be perceived tomorrow.
Nation and Place Branding strategies are based on a shared vision of the future based on common goals. In this way the support of civil society, the public and private sectors can be guaranteed, which is indispensable for the success of these strategies.
Not only do Nation and Place Branding strategies help to build the desired perception through specific policies and projects, they also help to design and build a more positive and favourable reality.
3. Promoting economic and social development
International perceptions have an undeniable economic impact. Whether fair or unfair, the reputation of a Country, Region or a City influences the choices of international stakeholders whether investors, importers, entrepreneurs, tourists or human talents.
Nation and Place Branding strategies help to create a clear and sustainable differentiation for the Country, Region or the City, and enhance the competitiveness of its tangible and intangible assets.
Repositioning and managing reputation through Nation or Place Branding enables places to focus on attracting specific audiences perceived as strategic for the progress of the Country, Region or City.
For instance, attracting the companies or talent needed to develop strategic sectors will not only create value for the destination, but also more and better job opportunities and posts.
However, brand building goes beyond strategic repositioning. Through initiatives in specific areas, such as legislation, training, innovation, etc., brand strategies drive strategic sectors towards development of the Country, Region or City, elevating it in the desired areas.