Tourism should also benefit from sterling losing its value against other currencies, while Wales' public sector spending, greater as a proportion of its economy than the average for the UK, would also give it a "softer cushion" as the recession went on, he added.

BBC: warehouse scene

The overall index score was determined by performance in 26 image attributes across five key association dimensions: Value System, Quality of Life, Good for Business, Heritage and Culture, and Tourism.

FORBES: Switzerland Tops Ranking of 25 Best Country Brands