According to a recent Brand Finance report, Adnoc has emerged as the UAE's most valuable brand, while e& Group’s telecom subsidiary, etisalat by e&, ranks as the strongest brand both in the Middle East and globally.
Adnoc, headquartered in Abu Dhabi, increased its brand value by 7% to $15.2 billion, benefiting from its initiatives in decarbonization and diversification, which also improved its Brand Strength Index score to 80.2. Meanwhile, etisalat by e& achieved a Brand Strength Index score of 89.4 out of 100 and an AAA rating, distinguishing it as the strongest telecom brand worldwide. Both Adnoc and etisalat by e& continue to reinforce their status as leading brands in the UAE.
Andrew Campbell, Managing Director at Brand Finance Middle East, highlighted the strategic prowess of both Adnoc and e& Group's telecom vertical, etisalat by e&, in leveraging diversification and investment strategies to strengthen and expand their positions in rapidly evolving markets. Despite their different sectors, both brands demonstrate effective growth strategies.
Additionally, the resurgence of travel post-pandemic has significantly boosted flydubai, which saw a 65% increase in brand value to $260 million, making it the UAE's fastest-growing brand. This growth was driven by a 23% increase in revenue in 2023 and a 31% rise in passenger numbers year-over-year.
Emirates also experienced a notable increase in brand value, growing 30% to $6.6 billion and reclaiming its position as the Middle East’s most valuable airline brand and the fourth globally, nearing its pre-pandemic valuation of $6.9 billion.
Mashreq Bank’s brand value surged 44% to $1.4 billion, bolstered by strong financial performance and investments in its digital banking platform, Mashreq Neo. It now ranks among the top 165 banking brands globally, with its brand value tripling since 2021.
PureHealth Group marked its debut in the rankings with a brand value of $434.2 million after a transformative year that included strong revenue growth, an IPO on the Abu Dhabi Stock Exchange, and expansion into international markets through significant acquisitions.
Despite a decrease in brand value by 8% to $41.6 billion, primarily due to falling crude oil prices and sales volumes, Aramco remains the most valuable brand in the Middle East, although its brand strength has declined.
Campbell concluded by noting the adaptability of the Middle East’s leading brands. He pointed out Adnoc’s investments in alternative fuels, e& Group and STC’s telecom transformations, and significant growth and innovation in top healthcare brands as examples of how regional brands are preparing for future progress and prosperity by embracing diversification and innovation in a changing world.
News Source: Khaleej Times
