Obviously, prosperous countries are now resorting to the same strategy of building image as the leading brands do. A country with vague reputation, though, is deemed to be an outsider on the world economic arena. It’s high time we rethought how to withstand the manipulations from outside, and to boost the profitability of the national brand. The desire to get more Ukrainians excited about the national identity issues, and be united by this idea has urged me to write this piece.
Three main challenges on the way to capitalizing Ukraine
There are several components to the national brand – the so-called “hexagon” – whose symbiosis guarantees the creation of a solid and long-standing national brand. It incorporates tourism, export, government, cultural heritage, human asset, investments and immigration. All of these directly affect the brand capitalization. Cynical enough, the reputation of a country is a convertible asset and that be bought and sold.
The first challenge is geopolitical. We need to learn how to successfully manage the national brand at such a global level. To put it more precisely, the ability to convert the reality into objective benefits is a top priority for Ukraine. Moreover, it’s nigh to impossible to talk about capitalization of the independent country’s brand without enhancing its prestige in Europe. I believe that the perception of Ukraine as a new economic tiger would be the main criteria of assessing its economic renaissance in these rocky times. However, the integration is not that rampant to take place for the time being.