NATION BRANDING AS A TOOL FOR THE INCREASE OF FOREIGN DIRECT INVESTMENT

Abstract This research study sought to find out how nation branding can be used to increase foreign direct investment. The study considered the different opinions and views of experts in the area of nation branding such as Simon Anholts statement that “a nation‟s identity should stress a reality that resonates with people, both within and outside the country.” This study is especially relevant at this time because of the recent discussion and debate about nation branding and how it can be effectively used to improve a Ghana‟s economic standing. Most African countries today are competing for the attention of multinational companies that have the adequate resources that can be used to improve some economic sectors. During the study, information was gathered from members of the Ghanaian public (students and white collared workers) about their perceptions of Ghana. Most respondents provided positive views about Ghana and agreed with the decision to brand the country. The study also found out that foreign investors chose to come to Ghana because they perceived Ghana as a democratic country and a place with significant future prospects in business. The presence of the existing competition makes the branding process expedient for Ghana as the country seeks revenues from foreign investment and since Ghana hopes to reach middle income status by the year 2015.