Figure of merit for places: perspectives on place branding

Building on the formula of “Figure of Merit” used in technology studies, this work has the aim to find analogism in place marketing by presenting “Figure of Merit for Places”; the identified formula represents the possible decision making algorithm that the cluster of Digital Nomads could use to choose a place to live for a period of life. The framework is useful both to place marketers and managers – identifying value proposition and the cost-of-living and cost for accessibility - and to the place demand – discovering the benefits to choose a place to live for a period. The analogism comes from the opportunity to study the Digital Nomads (DNs) that are emerging as a maximizer cluster that live for different periods in different territories respecting the places and diffusing traditions, cultures, impressions and experiences; these characteristics stimulate the place marketing activities of the territories (demand driven) and contribute, indirectly, to place branding strategies (supply driven).