Here is the proof that PIGS can Fly
Almost no country has made it out of the whole post-2008 economic fiasco without scratches. Record high unemployment rates, fallen governments, and social unrest have been the trademarks of most economies in the past decade. As if it wasn’t bad enough, some of them had their country image hurt further by the detrimental nicknames the media branded them with. We’ve all heard that PIGS, haven’t we? It is time to forget this unflattering expression once and for all.
Portugal, Ireland, Greece, and Spain haven’t exactly excelled when it comes to their economies, for a while now. The subsequent metaphor of a dirty farm animal has been following them around since the 90s. However, it wasn’t until the European debt crisis in the late 2000s that it became popularised in world media and used in just about every article connected to these countries. At that point, they were joined by Italy as well. Internal and external politicians, journalists, and financial organisations of the countries have tried to reduce or eliminate the term altogether. Yet due to its practicality and catchy wording, no one was able to stop the organic process of its widespread use.
The Pigs Project A photographic project developed by the Hungarian photographer Carlos Spottorno, clearly illustrates the negative image such metaphor may have caused in Investor’s minds
It could be argued that this has affected the country brand in a major way. The negative connotations that come with the acronym do not inspire trust.
Investment in economies that were already significantly injured has likely been damaged further because of the image imposed on them. Although most of the world was dealing with economic problems, it was their names that would come to mind when somebody mentioned the economic crisis.
But it appears that country brands of Portugal, Italy, Ireland, Greece, and Spain have sufficient goodwill to persevere through times of trouble. The Digital Country Index 2016 (a project developed by Bloom Consulting and Digital Demand — D2©) has shown these countries are, in fact, well-loved in the digital world. They are all among the most searched countries for positive reasons. Every single country in the group ranks top 30 in the overall ranking and top 50 in every particular dimension.
While interest mostly stems from the Tourism aspect, these countries are also important references for Export and Talent. Portugal, for instance, has achieved very good results in “workforce.” They are the 7th most searched country in this category, surpassing the UK by 7%. Whereas Italy,for instance, attracted as much as 152% more searches for “Made In Effect” than Germany.
Ireland won 7th place in the “FDI” category, while Spain can brag about placing 2nd in the “Invest In” brandtag. Greece was the 2nd most searched country in the “strategic location” & “market access” categories and was in this respect 95% more popular than its eternal antagonist, Germany. This means tourists, investors, businesses, potential expats, and random aficionados are very interested in this group of countries.
As the displayed interest in the countries online most often leads to actual positive effects, economically speaking or in other ways, we dare to bet that the future is looking bright for the former P …
