Venezuela: How does this nation on the northern coast of South America perform in leading international rankings on economic competitiveness, attractiveness and environmental sustainability? How well does its country brand perform in comparison to others in the region?
Let’s explore what international rankings and indices have to say about Venezuela in terms of its economic performance and sustainability, its country brand strength, soft power, and reputation.
Let’s take a closer look at:
- Venezuela’s soft power and country brand strength
- Its appeal to skilled labour, investors, and visitors
- The country’s global contribution to peace and well-being
- How well it fares in terms of happiness and sustainability
Soft Power and Brand Strength
In the Global Soft Power Index 2024 by Brand Finance, Venezuela ranks 89th, dropping 17 positions from the previous year. This reflects ongoing challenges in maintaining its global influence.
Bloom Consulting’s Country Brand Ranking Trade Edition 2024-2025 places Venezuela 98th globally and 17th regionally, a decline of five positions, highlighting its current struggles in the trade environment.
The same firm’s Country Brand Ranking Tourism Edition 2024-2025 ranks it 145th globally and 38th regionally, indicating a significant drop of seven positions and challenges in its tourism appeal.
The Anholt-Ipsos Nation Brand Index (NBI) 2023 ranks the country 60th, reflecting a slight decline by one position, which points to the need for improvements in several areas of national image.
Appeal to Talent, Investors, Trade, and Travel
The UNCTAD World Investment Report 2023 shows that Venezuela’s FDI inflows for 2023 were 688 million USD, a decrease of 963 million USD from the previous year. Meanwhile, FDI outflows amounted to 1.434 billion USD, a reduction of 655 million USD, indicating ongoing economic challenges.
The nation ranks 67th in the IMD 2024 World Competitiveness Ranking, a drop of three positions. The country’s performance across various categories is consistent, with ranks in the mid-60s for economic performance, government efficiency, business efficiency, and infrastructure.
In the Numbeo Country Cost of Living Index, Venezuela ranks 65th.
According to the World University Rankings 2024, there is one university in the 1501+ bracket: The University of the Andes.
Sustainability Performance
Venezuela ranks 45th in the Environmental Performance Index (EPI) 2024, showing a solid regional performance, where it ranks 6th. However, it still faces challenges in environmental sustainability.
The Sustainable Development Report 2024 ranks it 122nd, a decline of five positions, indicating struggles in achieving sustainable development goals.
Is Venezuela a “Good” Country?
In the CAF World Giving Index 2023, the country ranks 67th. About 75% of its population reported helping a stranger, while 16% donated money and 31% volunteered, showcasing a culture of generosity despite economic hardships.
In the Good Country Index, Venezuela ranks 142nd overall. By category, it performs best in Health and Wellbeing (96th), World Order (97th), Planet and Climate (118th), Science and Technology (119th). However, there is room for improvement across the board, particularly in International Peace and Security (135th), Prosperity and Equality (137th), and Culture (145th).
According to the Economist Intelligence Unit (EIU) Democracy Index 2023, it ranks 142nd, an improvement of five positions, signaling some progress toward democratic governance.
However, the 2023 Corruption Perception Index ranks it 179th, showing a decline by one position, highlighting ongoing corruption issues.
Peace and Happiness
The Global Peace Index 2024 ranks Venezuela 142nd, an improvement of three positions. Regionally, it ranks 10th.
The Global Terrorism Index 2024 places the country 65th, an improvement by 13 positions, reflecting a reduction in terrorism-related incidents.
The World Happiness Report 2024, which displays the Ranking of Happiness based on a three-year average, ranks it 79th, a rise of nine positions. The report shows that The Old (64th) are the most satisfied with their life, while The Young (83rd) and Upper Middle (83rd) are less so.
Last updated in August 2024. Find more country profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Venezuela’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
