Nigeria has been ranked 39th in world trade according to the Bloom Consulting Country Brand Ranking 2012.The 2012 Bloom Consulting Country Branding Ranking measured the effectiveness of each country’s brand strategy, separately evaluating the trade and tourism country brand strategies of 161 countries. The latest study incorporates Online Search Demand (OSD) which evaluates the efficiency of each country’s brand strategy and shows whether the demand of tourists and investors online is met by what the country is promoting online.
Nigeria, one of the 35 African countries that featured in the study ranked number 39th with $ 6737, 9 million FDI net inflows. Nigeria is the leader among African countries in Trade, followed by Sudan (42nd), Algeria (48th) and South Africa (50th). These four countries made it to the top 50 in the rankings.Further analysis in the Country Brand Strategy (CBS) rating which reflects the efficiency of country brand strategy online show that Nigeria has a B rating. This means that its country brand strategy for attracting foreign investment is considered good. However, Algeria and Sudan have the highest CBS Rating (AAA) showing the excellence of country brand strategy in the World Wide Web. Other African countries that showed high results of their promotion strategy online, though not in the top 50 are Kenya (106th), Burkina Faso (116th) and Mauritania (122nd).
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About the Ranking and Methodology
The 2012 Bloom Consulting Country Branding Ranking© is a thorough study measuring the effectiveness of each country’s brand strategy, separately evaluating the trade and tourism country brand strategies, and comprising of 160 and 161 countries respectively. The Ranking relies on hard facts, which include the economic performance and the economic growth of countries. For tourism these are represented by the annual intake and the annual growth rate of global tourist receipts. For trade these are characterized by the annual intake and the annual growth rate of global FDI inflow. This hard data is accompanied by soft facts, thereby measuring the economic impact of each country’s brand strategy. Furthermore, this year marks the incorporation of Online Search Demand (OSD), for the first time, into a ranking of this type. The OSD evaluates the gap between what countries are promoting (supply) and what investors and tourists are searching for (demand). Bloom Consulting uses the OSD along with an analysis of each country’s brand strategy to assign each nation a Country Brand Strategy (CBS) Rating©. This identifies the accuracy match between supply and demand and allows Bloom Consulting to assess the best country brands.