RIO DE JANEIRO, BRAZIL – Mexico, Brazil and Argentina are the most influential Latin American countries, according to the latest ‘Global Soft Power Index 2021’ report by consultancy Brand Finance, in which Germany has seized the top spot from the United States, which drops to 6th position, and has become the most influential nation in the world.
This year, the ranking includes 12 new Latin American countries, bringing the total number of nations in the region to 19 in the report.
The new additions are Uruguay (56), Cuba (58), Panama (60), Paraguay (64), Costa Rica (68), Dominican Republic (73), Jamaica (77), Bolivia (85), Ecuador (91), Guatemala (101), Honduras (102) and Trinidad and Tobago (103).
In the 2021 ranking, Brazil (35th), Argentina (41st) and Mexico (44th) hold the top three Latin positions and are the only countries in the region among the world’s 50 most influential nations.
The report has highlighted that the three countries also share common features in the worst rated areas, such as ‘Stable economy’, within the area of Business and Trade, as well as in Education and Science. In addition, the management of the Covid-19 crisis has penalized all Latin American countries for the low scores received.
Brazil (1.4), Venezuela (1.6) and Mexico (1.9) are the countries with the lowest scores for Covid-19 management. In contrast, Uruguay (3.5), Panama, Paraguay and Costa Rica, all with 3.3 points, Colombia (3.1) and Peru (3) are the best rated.
The study indicates that Argentina and Colombia are the Latin American countries which most improved their level of influence, in contrast to Venezuela, which plummets 37 places to 92nd due to the entry of new countries in the ranking.
“Like any business, Latin American countries have the opportunity to establish their own country brand strategy based on their strengths or trying to reinforce their weaknesses,” said Laurence Newell, director of Brand Finance Americas.