EVOLUTION OF A REGIONAL BRAND AND ASSESSMENT OF ITS IMPACT ON THE SOCIO-ECONOMIC DEVELOPMENT OF A TERRITORY (ON THE EXAMPLE OF THE NOVGOROD REGION)

The article explores the evolution of theoretical approaches to regional branding and justifies the need to transition from declarative image positioning to measurable management of the socio-economic effects of a territory. The authors systematize the main stages of territorial brand concept development: from episodic advertising campaigns of the 1970s-1980s and S. Anholt’s static model to the processoriented and cyclical approaches of the last decade. A persistent gap inherent in most existing models is identified, namely the absence of unified quantitative tools for empirical verification of branding effectiveness. To overcome this limitation, the authors propose their own four-stage dynamic model, built on the principle of a closed management cycle. The sequence of stages includes diagnosing the territory’s resource potential, conceptualizing brand identity, institutional implementation, and quantitative assessment of achieved results. The final stage, based on Pearson’s correlation analysis and a system of key performance indicators, forms feedback with the initial diagnostic stage, allowing for the diagnosis of structural disproportions in brand implementation. The model’s approbation was conducted using the Novgorod region as an example, with data from 2022-2025. A strong positive correlation is established between tourist flow and the cost of implemented tour packages. At the same time, a moderate link with investments in fixed assets is recorded. This discrepancy quantitatively verifies the “tourism gap” phenomenon – a situation where high image-driven demand does not translate into adequate investment returns. Based on the obtained results, practical recommendations are developed, including the formation of an industry investment cluster, the creation of premium tourism products, and the implementation of a digital monitoring platform with target indicators by 2028. The proposed model can be scaled to other regions with a cultural and historical specialization.

regional branding, investment cluster, cultural and historical capital, territorial brand, Novgorod region, Pearson’s correlation analysis, tourism gap, tourist attraction, dynamic model, efficiency assessment

Mikhalev D. A., Eldieva T. M. Evolution of a regional brand and assessment of its impact on the socio-economic development of a territory (on the example of the Novgorod region). Biznes. Obrazovanie. Pravo = Business. Education. Law. 2026;3(76):20—29. DOI: 10.25683/VOLBI.2026.76.1663.