Confidence returns to drive steady, diverse growth
Spain is not only one of the largest and most influential markets in Western Europe, it’s also one of the most dynamic. It is building on centuries-old strengths, and at the same time is adapting to new and challenging conditions with alacrity. As green shoots emerge in an increasingly diverse economy, we inaugurate the WPP BrandZ™ Top 30 Most Valuable Spanish Brands ranking.
This ground-breaking study ranks the country’s most successful brands, analyzes their strengths, and identifies the key forces that are driving growth in this market. It is the first edition of an annual review that will track and anticipate the evolving environment for brands in Spain, and will chart the changing fortunes of the country’s most valuable brands.
We are tremendously excited to be bringing the BrandZ™ study to Spain. This is the fifth-largest economy in the European Union, and is home to incredibly strong and enduring local brands; the bank BBVA dates back to 1857, and brewing giant Mahou San Miguel is also over 100 years old. Spain is also the birthplace of brands that have become household names the world over: Zara, Mango, Manolo Blahnik, Santander and Telefónica, to name just a handful.
The Spanish economy is forecast to grow at around 2 percent a year for the next three years; not especially fast, but with consistency and steadiness. Just as importantly, there is a sense here that things are getting better, and that the conditions are right for people to work to make their own future. There is a sense of determination and entrepreneurship now that Spain has not seen for some years.
This brings up the question of how the world views Spain. In the 2017 Best Countries ranking, Spain ranks 19th out of 80 major markets around the world across all measures. Its greatest attribute is its heritage, a measure that includes cultural attractions, a rich history and great food. This places Spain just ahead of China and right behind Austria in the global rankings.
Successful Spanish brands are telling stories that resonate with people’s lives. Consumers are sophisticated and selective; they expect an increasingly complex relationship with the brands they make part of their lives.
Some of the names featuring in the BrandZ™ Top 30 Most Valuable Spanish Brands are not just a domestic success but are also world leaders in their field. In coming years, it is likely that more home-grown brands will start to realize global aspirations.
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CEO, The Store WPP, EMEA and Asia
WPP: [email protected]