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This chapter sheds light on the ‘country of origin’ concept. The author contends that this concept is composed of micro- and macro-components. He argues that the tourists’ hedonic and monetary gratifications are derived from the travel experiences. Therefore, the country-of-origin image (COI) can have an impact on the destination’s brand extension. In this light, this contribution examines the relationship among COI, overall brand equity and brand extension. The author implies that the hedonic and monetary values can have a moderating effect on the impact of COI and on destination brand extension.