5 November 2024, Tue |
12:08 PM
By TECHx Desk
The UAE has broken the monopoly of Western countries in Brand Finance’s latest annual report on the most valuable and strongest nation brands.
Scoring high in overseas perceptions of the country’s prowess in Education and Science, the UAE jumped three positions to reach 11th in the top 100 nations in the 2021 ranking. The country has scored a 2.5-point increase in its Brand Strength Index (79.1 out of 100).
Singapore is the other non-Western country that has done well, with fourth position, riding on its soft-power strength.
Apart from the successful Emirates Mars Mission, the country stands out for its COVID-19 response, and scores high in Influence and Business & Trade, both of which are expected to benefit from Expo 2020.
The UAE’s continued increase in brand strength and value are testimony to the country’s strategy of diversifying its economy for long-term growth.
The top 100 most valuable nation brands in the world have recorded a seven percent increase in brand value since 2020, signaling that recovery is underway from the COVID-19 pandemic. Although this is a positive sign, the nation brand values have not reached pre-pandemic levels yet. At $90.8 trillion, this year’s total brand value of the top 100 rankings is seven percent lower than that in 2019.
UAE brands Abu Dhabi National Oil Company (ADNOC) and Etisalat have also done well in the raking of global brands.
With an impressive 19 percent brand value growth to $12.8 billion, ADNOC is the fastest amongst the top 10 oil and gas brands globally, which sees it hold on to its position as the 2nd most valuable brand in the region, behind Aramco.
ADNOC is one of the few brands which have seen a rise of BSI score of +2.0 points, which is perceived as a proof of the company’s reputation and trust among investors and stakeholders.
In line with the UAE leadership’s 2050 net-zero strategy, ADNOC is also continuing its commitment to the energy transition. In addition to a joint venture with TAQA and Mubadala focusing on renewable energy, it also announced plans to build a blue ammonia project.
Meanwhile, Etisalat has retained its position as the region’s strongest brand ($10.1b) for the second consecutive year with a score of 89.2 out of 100 and a corresponding AAA rating. Etisalat is also the strongest telecoms brand globally and in the region.
Expo 2020 has given Etisalat the platform to demonstrate itself as a strategic enabler of the UAE’s digital transformation, helping its BSI score go up by 1.8 points, taking it into the top 20 strongest brands globally, claiming 18th place, as well as making it the strongest telecoms brand globally.
The increase in its brand value has from $8.5 billion to $10.1 billion has pitchforked Etisalat into the top 200 of the Brand Finance Global 500 ranking this year.
