One of the main characteristics of modern business environment is the complexity that arises from the increasingly competitive struggle in the market. Under such conditions, competitive struggle takes place both at the company level and at the level of specific countries. Countries are trying to attract more tourists and foreign investors, stimulate export, develop strong international partnerships, etc. To achieve this goal, it is necessary to focus on building a nation brand. The purpose of this paper is to analyze the importance of branding Serbia as a tourist destination and to measure its position i.e. ranking in terms of country branding. Serbian national brand has bad rating, which points to the inability of our country to handle global competition. The aim of this research is to determine the position of Serbia as a brand, pointing to the need for adequate approach and intensive brand management, which in return would contribute not only to Serbian companies, but the whole country as well.