Bangladesh's brand value currently stands at $508 billion, according to Brand Finance, a leading global independent brand valuation and strategy consultancy.

Moreover, Bangladesh has become one of the fastest-growing brands as a nation as it has moved eight notches up to the 97th position in the Global Soft Power Index 2023 prepared by the London-based firm.

Brand Finance puts 5,000 of the world's biggest brands to the test every year and publishes nearly 100 reports annually by ranking brands across all sectors and countries.

The Global Soft Power Index provides insight into a nation brand's perceptions as well as identify key attributes driving its reputation and influence around the world.

How is nation brand value measured?

Brand Finance measures brand value of a nation focusing on two key areas -- the financial performance or the gross domestic product of a nation and the strength of the nation in the global marketplace.

In last year's Global Soft Power Index 2022, Bangladesh ranked 105th and the south Asian country recorded a 37 per cent year-on-year growth in brand value change in 2023, emerging as one of the fastest-growing nation brands in the ranking.

Bangladesh's index score was 35.1 in 2023, up from 29 in 2022, when the country's brand value stood at $371 billion, according to the Global Soft Power Index 2023.

Who are the toppers in Global Soft Power Index?

The United States and the United Kingdom remained in the first and second positions with the brand values of $30,309 billion and $4,797 billion respectively in 2023.

China slipped down to the fifth place while Japan gained one notch to the fourth position followed by Germany's third position.

How are South Asian peers doing?

India moved one step forward to the 28th in the index with a brand value of $2,924 billion.

In term of brand value among the South Asian countries, Bangladesh stands second after India while the brand values of Pakistan, Sri Lanka and Nepal are respectively $232 billion, $48 billion and $29 billion.

"The Bangladesh economy is one of the finest examples of remarkable economic development and is the World Bank's proclaimed model for 'poverty reduction'," Brand Finance said.

As Bangladesh gains global appreciation as one of the fastest-growing South Asian economies, its nation brand sees the highest increase in value and ranking within the 2023 ranking, it added.