Abu Dhabi oil major remains second-most valuable Middle East brand
Published: Wed 17 Jan 2024, 6:00 AM
Energy giant Abu Dhabi National Oil Company (Adnoc), telecom major etisalat by e& and Dubai’s flagship carrier Emirates are the three most valuable brands in the UAE in 2024, according to brand valuation consultancy Brand Finance’s latest data released on Wednesday.
In a list of 500 global entities, the three UAE entities saw their ranking improving in 2024. Adnoc was ranked 128th in 2024 as compared to 138th last year, Etisalat by e& improving its position to 177th this year as against 195th in 2023 and Emirates airline was placed at 344th in 2024 as compared to 462nd in the previous year.
Adnoc has a brand value of $15.22 billion, followed by etisalat by e& at $11.68 billion and Emirates at $6.6 billion.
The total brand value of the three UAE entities increased by $3.75 billion to $33.5 billion in 2024.
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e& group’s telecom vertical, etisalat by e&, has retained its position as the strongest brand in the Middle East and Africa as well as the strongest telecom brand in the world, scoring 89.4 in the Brand Strength Index.
“The telecom operator has benefited from being part of a larger technology group, e&. This also means that e& has retained its ranking as the most valuable portfolio of TMT (technology, media, and telecom) brands in the Middle East and Africa, with an increase of 15 per cent on last year to a total brand value of $17 billion. Key contributing factors include its ongoing Manchester City Football Club partnership, 5G network leadership, innovative customer experience initiatives, and participation in global events like the Formula 1 Grand Prix in Abu Dhabi and COP28,” Brand Finance said.
Regionally, Aramco retained its status as the most valuable Middle Eastern brand as its value witnessed a slight decrease to $41.6 billion in 2024 from $45.22 billion last year. Adnoc, the second most valuable Middle Eastern brand, has grown its brand value by 7 per cent to $15.2 billion. It
“The region is investing heavily in tangible and intangible away from the oil industry and as such many brands are making the step up from being strong regional players to becoming brands with global aspirations,” said David Haigh, chairman and CEO of Brand Finance.
Globally, Apple achieved a remarkable 74 per cent growth in brand value, reclaiming its title as the world’s most valuable brand by a huge margin.
The iPhone maker achieved exceptional brand value growth this year, increasing by $219 billion to $517 billion.
Tesla’s brand value dropped 12 per cent to $58.3 billion, falling out of the top 10 to be placed at 18th in the ranking.
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