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Country Branding: Australia - Essay Example

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The past century has seen a rapid increase in trade and financial integration of the world. Countries are now dependent on one another and no country can survive seclusion. Countries are now focusing on their core competence meaning they are producing goods in which they have a competitive advantage over other countries. …
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Country Branding: Australia
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"Country Branding: Australia"

Download file to see previous pages Countries are now focusing on their core competence meaning they are producing goods in which they have a competitive advantage over other countries. For other goods they are dependent on other countries and this has given rise to global integration. In such times it is becoming increasingly important to focus of country branding. It is important to build a brand name of the country like a product so that the country can attract tourist and foreign investment. Also country branding informs the world about the core competence of the country and this aid export of the economy. Building a brand for a country is also important because it helps improve the perception of the world about that particular country. In this essay we will talk about country branding with regards to Australia. Advantages and disadvantages of branding of Australia will be discussed and a strategic plan for country bran ding of Australia will also be given. The future of Australia country brand will also be evaluated in the essay. Background and Information Australia is based in the South hemisphere and constitutes most of the Australian continent of the world. Australia is a developed country with a highly urbanized population. The economy of the county is also extremely strong and Australia is placed 13th in the list of world’s largest economies (IMF, 2010). ...
The country also has to create a brand image that should attract skilled labour. It is important to understand that skilled labour is very rare in the world therefore it is not easy to attract foreigners with specific skills. The culture of Australia is also extremely diverse and there are many different culture practiced in the country. This cultural diversity is creating certain ethical rifts in the country. There have been seen some racially motivated incidents in the country which are tarnishing the reputation of the country. Such events might resist skilled immigrants from coming to the country. These events are also a sign that cultural tensions exist in the country. Advantages of Country Branding In today’s business environment branding is extremely important. It is important to develop a brand for a product or service because it allows companies to capture profits. Value creation is not limited to product or service provided but brand name is also included in value creation. Country branding is therefore important for a country because it serves many benefits of the country. Country branding attracts tourist from all over the world. Countries that are well branded attract many tourists from all over the world (Future Brands, 2009). This is an important source of revenue for many countries. Foreigners when visiting countries sell their domestic currency to buy the currency of that country. This is beneficial for the currency of a country as well. Country branding enhances the brand image of the country in the eyes of the tourist. All countries have few or many tourist destinations but it is important to market these destinations in proper manner and country branding ...Download file to see next pagesRead More
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