1. National branding is too broad, cities are the real growth drivers for transformation
The real buzz and battlefield is at the city level. This means the way upstart cities get branded and how more established urban centers refresh their brands will directly impact how urban competition unfolds and economic growth shifts. According to McKinsey & Co:
• By 2050, 75 per cent of the world’s population will be in cities, many in Asia.
• By 2025, more than 20 of the world’s top 50 cities will be in Asia.
• By 2027, nearly 40 per cent of global growth will occur in 400 midsize cities in emerging markets that are barely known today (That is a bigger contributor to global growth than the combined total of all developed economies, plus the emerging markets’ megacities -- the ones with more than 10 million people – such as Mumbai, Sao Paulo, and Shanghai)
2. How cities are defined and judged has evolved with dramatically new expectations for greatness
“Livability” is a critical factor to attracting business. Criteria to be considered a “smart city” is growing and getting more sophisticated.
Being “environmentally sound” and “sustainable” are chief among new benchmarks. New eco-cities like Songdo , South Korea are raising the bar with centralized waste disposable systems using pneumatic tubes. Another -- Masdar City in the UAE -- boasts a goal of zero waste and carbon emissions.
Cities, new and old, must work harder and smarter to remain relevant. In doing so, the attributes a city projects to define its brand must be authentic. From that factual foundation, cities can and should be aspirational, highlighting their goals and positioning in a changing new world order.
3. The new era of icons do more, mean more
Since the Egyptian pyramids, cities have built icons to symbolize their assets and aspirations to the world. As Asian finance is back in growth mode, Singapore is one of several business hubs jockeying to be an investment gateway to the region and the pre-eminent international financial centre.
Its new Marina Bay Financial Centre was developed to define Singapore, but it is so much more, because it doubles as its financial district. By the end of 2010, it attracted over S$20 billion of private real estate investments.
Another leading Asian city, Hong Kong has the most skyscrapers in the world, symbolizing its commercial and financial clout. It attracts shoppers by the droves; as much as 56 per cent of its visitor spending goes to shopping.
The Hong Kong Tourism Association has been innovative and through partnership with the private sector its skyline comes alive every night with a dazzling display of lasers synchronized with music. Hong Kong’s skyline is a global icon of progress and prosperity.
4. By selling their softer sides and being savvy with digital media, cities can compete with “super brands” – and become one
A fresh wave of sectors -- creative arts, culture, heritage and environmental experiences –has supplanted fatigued industries such as manufacturing when it comes to city branding and economic impact.
A good example is the south Indian hotspot of Kerala. From an unknown coastal state, Kerala decided to spotlight its quaint, scenic beauty over agricultural produce, to transform into a niche eco-tourism destination.
The online world has been a leveler for Kerala where digitally savvy upstart destinations can have the same reach, power, and presence of a New York City or London. Through micro-blogging, ipad and iphone apps, strategic video placements and portal strategies, Kerala projected its brand promise worldwide, starting in 2008.
It was since named one of the 10 paradises of the world by the National Geographic Traveler magazine. The economic impact has been extraordinary.
It is a perfect example of how innovative thinking, creativity, aspiration and social media can fast-track modern cities.
5. A city in crisis is the ultimate test and opportunity to recover, rebrand and emerge a leader
Strong leadership when a crisis hits determines the city’s posture, and the speed and effectiveness of its recovery, not only as a community, but as a brand.
One of the “brands” hit especially hard recently is Japan -- and Fukushima, in particular. How it responds to the multiple disasters on 311 could set the bar for re-branding in the face of crisis. Among many measures is a movement for instating Fukushima as a special economic zone to accelerate growth. The site of one of the world’s worst nuclear disasters has the chance to lead the world in renewable energy development.
The Japanese are world-renowned leaders in innovation and this event stands to reinforce that pre-eminence. As the Japanese say, from the tide of misfortunes come blessings.