The nation’s brand value has surged by 32%, beating the global average increase of 13%, to place Australia within the world’s top 10 most valued brands.

The leap to a brand value worth US$1,257bn has placed Australia above Russia and Italy, according to the Brand Finance report.

Australia’s brand value leaped by US$305bn this year making it in, monetary terms, the nation with the third largest growth behind only America and China.

Richard Haigh, brand valuation director, said: “Brand Australia is continuing to perform excellently in the aftermath of the GFC. Fuelled by both investment in mining from China and by its position as an aspirational travel destination for tourists worldwide, the momentum generated in Australia’s brand value growth looks set to continue to propel it to greater success in the future.”

Australia’s growth matches the region with Asian nations identified as the fast risers.