The bank surveyed over 10,000 people across the US, Ireland, France, Netherlands, Germany, South Africa, UAE, India, China, South Korea
![UK countries](https://payspacemagazine.com/wp-content/uploads/2020/04/flag-3817874_1280.jpg)
Here’s how much countries are ready to pay for “Made in UK” products. Source: pixabay.com
According to Barclays, British exporters can benefit from price premiums of up to £3.5 billion per year in ten key countries.
Barclays asked respondents how much extra they’d be willing to pay if products such as food and drink, clothing, and cars bore a Union Jack kite mark. The results show that products made in the UK are still held in high regard around the world and that consumers are willing to pay a premium for them.
The research found that India leads the way, being prepared to pay an 11.8% gross premium for products made here, followed by the UAE (10.9%), the USA (10.4%), South Africa (9.6%), and China (8.8%).
Meanwhile, 66% of consumers in China and India said they’d be inclined to pay more for goods displaying the British flag because they believe them to be of a higher quality.
The picture is enhanced when looking at consumers who say they’ve already paid more for British products with China leading the rankings here at 63%, followed by India (60%) and the UAE (56%).
Additionally, when respondents were asked if are buying more British goods than they did five years ago, 69% of consumers in India, 64% in China, and 64% in the UAE said they are increasingly buying British.
Besides, in a boost to the UK’s automotive sector, 15% of the respondents described it as ‘the best in the world’ and, on average, said they’d pay a 10.2% premium for British-made cars.
We’ve reported that Facebook Shops is now available in Canada and UK.
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