The annual Brand Finance report looks at the world’s leading nation brands and the impact that a country’s reputation and image has on governments, investors, students and consumers. It uses a method based on the royalty relief mechanism that Brand Finance uses to value companies.

This year’s report revealed the US remains the world’s most valuable nation brand with a total nation brand value of $19.3 trillion, while China ($6.4bn), Germany ($4.4bn) and the UK ($2.8bn) retain their second, third and fourth place positions from last year.

Germany has been revealed as the strongest nation brand (UK lies in fifth) and Qatar is the fastest growing.

“The results of this year’s Brand Finance Nation Brands report show the advantages that a strong nation brand can confer; the effect of a country’s image on the brands based there and the economy as a whole makes a nation brand the most important asset of any state,” said Brand Finance CEO David Haigh. “Governments, trade bodies and businesses must take steps to ensure that their nation brand is strategically appropriate, well-managed and regularly monitored in order to maximise the benefits.”