Egypt’s worldwide Brand Ranking has declined by nine positions, plummeting from 38th position in 2013 to the 47th position in 2014/2015, according to a recent report conducted by Bloom Consulting. Within Africa, its position dropped from 2nd to 3rd during the corresponding period.
The Country Brand Ranking report, which measures the effectiveness of a country’s brand in the “investment dimension”, includes 245 countries in the world and 46 from Africa.
The report uses four variables to measure a country’s branding: the economic performance; the digital demand; the country branding strategy; and the online performance.
CEO of Bloom Consulting José Filipe Torres told Daily News Egypt: “A country’s investment promotion agency (IPA) functions as the gateway to its investment-related Country Brand, both through its official website and via its presence on additional social media platforms.”
“The online presence of an IPA is one of four variables in Bloom Consulting’s algorithm and is considered an important determinant of a Country Brand’s success,” he added.
Egypt’s country branding strategy also declined and was marked as BBB, a rating that stands for very good. According to Torres, a country’s branding strategy measure the accuracy of its IPA strategy.
“Egypt saw a large decline in its online performance this year,” Torres said.
On the variables that witnessed improvement, Torres stated that foreign direct investment growth saw the biggest surge.
Minister of Investment Ashraf Salman previously announced that projected foreign investments in FY 2014/2015 will reach $6bn-$8bn.