Written by: David Gallagher
So today the World Economic Forum released its 2015-2016 Global Competitiveness Report – billed as the most comprehensive analysis of economic competitiveness among 140 countries and, in my opinion, a pretty good indicator of where it’s good to do business today.
And next week, ICCO will publish in conjunction with the Holmes Report the 2015 Global PR Report – the only analysis of its kind looking at the PR agency business across 30 or so markets.
Well, yes. There’s no relationship at all between the two reports, their design or their conclusions, for that matter.
But there may be a pattern emerging between the two that’s worth considering. All ten of the most competitive economies overall (Switzerland, Singapore, US, Germany, Netherlands, Japan, Hong Kong, Finland, Sweden and the UK) also have well-established and generally growing PR consulting industries.
I’m not suggesting there’s a causal relationship, but it’s not too far of a stretch to imagine economies conducive to competition are also conducive to PR consultancy, and vice versa.
Dubious? Consider the factors needed for PR consultancy to be effective and valuable (yes, some may be relative):
– freedom of speech and independent media
– democratic institutions of government
– market competition
– digital infrastructure
– engaged citizenry / consumers
– global / international trade
– rule of law
– creative talent
Or looking at the other end of the spectrum, it’s hard to see PR thriving in the least competitive markets.
In any case, it’s food for thought.
I’ll look forward to your views or at next week’s ICCO Global Summit in Milan.
David is president of the International Communications Consultancy Organisation and will chair its annual summit in Milan, 7-9 October in Milan