THE FORMATION OF STATE BRAND AND THE FACTORS INFLUENCING IT

In the conditions of acute global competition, states and their territories (regions, cities) face the task of searching for their identity and the niche in the global investment market and tourist services market. State identity, reputation, and brand become today the most effective tools in the global competitive market. For Russia, the formation of the image of a strong and prosperous state is the necessity as the strong national brand offers the country a number of advantages, including the improvement of currency stability, the restoration of international trust and investor confidence, the international ratings drift, the increase of international political influence, the increase in exports of goods and services, the increase of inbound tourism level, and the creation of new opportunities to win compared to regional and global business competitors and to protect their own markets that will ultimately ensure a high level of competitiveness of the country on the global stage. The goal of the research is the study of the process of formation of the state brand and its factors on the materials of the Russian Federation. To achieve this goal, the authors analyzed modern methodologies for assessing the brands of the countries and built a cross-correlation matrix of the impact of international ratings by the areas of competitiveness on the state brand in the dynamics for 2013-2018. The study revealed that the main factors influencing the state brand are the entrepreneurial activity freedom, the development of the innovative activity, and the development of competitiveness. In this regard, to raise Russia’s position in the state brands rating, the authors offered to improve Russia’s position in the economic freedom ratings, to develop necessary tourism infrastructure, and to form a positive image of Russia as a strong and prosperous state.

state image, state brand, country brand, national brand, national branding, country image, development of territories