(MENAFN) The 2023 Brand Finance Global Soft Power Index has seen a significant improvement in Gulf nations, with Qatar, the United Arab Emirates (UAE), and Saudi Arabia leading the rest of the Arab region. This annual study is produced by Brand Finance and is considered the most comprehensive report on perceptions of nations as brands. Soft power experts, researchers, and government delegates met at the Queen Elizabeth II Centre in London to discuss the index.
The UAE has jumped five places to enter the top 10 for the first time since the index was started in 2020. Chairman and CEO of Brand Finance, David Haigh, described it as a “stellar performance.” Meanwhile, Saudi Arabia was confirmed as the second-highest ranked Arab nation, with a rank of 19, up five positions compared to last year. The Kingdom scored 51.3 out of 100 index points, a 4.1 point increase on the previous year's score. The Kingdom has been favored by a shifting energy landscape.
Lord Ed Vaizey, a former UK minister of culture, stated that he was not surprised to see the UAE in the top 10 and Saudi Arabia entering the top 20. He also added that the Gulf nations’ soft power "really does pay a difference.”
Despite political turbulence in the Middle East, Arab nations continue to emerge as key players in the study. This year, Qatar came in at rank 25, up six positions compared to last year. The country's ability to host the 2022 FIFA World Cup was cited as a key factor.
The rise of Gulf nations in the 2023 Brand Finance Global Soft Power Index indicates the importance of enhancing soft power. The report states that soft power has become a key asset for nations, and it’s no longer just an added advantage. Soft power, which encompasses culture, governance, education, and technology, can have a significant impact on a nation's economy, foreign policy, and international relations. Therefore, it is essential for nations to invest in their soft power to influence and attract people, business, and investment.
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