Emirates airline remains the most valuable in a list of the Middle East and North Africa (Mena)’s top 50 brands while the UAE heads the list of brand values in the region, brand valuation and strategy consultancy Brand Finance says.

 Brand value is up 21 per cent from $5.5 billion to $6.6 billion. Emirates’ route network continued to expand in 2014, with Brussels, Oslo, Chicago, Taipei and Boston added to its list of destinations. Its fleet is growing too; 150 Boeing 777s have been ordered at a cost of $56 billion to meet demand and service the new routes. Revenues are soaring, rising from $19 billion in 2013 to $22 billion the following year.

The UAE is an top when the brand values for each country are totalled. It has reclaimed the title from Saudi Arabia, which last year pulled ahead for the first time. The combined value of all 16 Emirati brands is $25.5 billion, while the 17 brands from Saudi Arabia total $21.7 billion. The UAE has strength in depth, with major brands from a variety of sectors including banking, aviation, telecoms, energy and real estate, led by Emirates.

This excellent business performance of Emirates airline is underpinned by the strength of Emirates’ brand. It remains the only AAA rated brand in the Middle East. The brand rating is calculated using Brand Finance’s Brand Strength Index which is a benchmark of a brand’s power, stability and future potential, similar to a credit rating.

Emirates’ competitors have performed even better however. Etihad has seen brand value increase 41 per cent, while Qatar Airways has grown by an even more impressive 51 per cent.

In fact all of Qatar’s brands have performed well this year. The average brand value growth rate for the Middle East as a whole is 23 per cent, the rate for Qatari brands is nearly double that at 47 per cent.

Brand Finance chief executive David Haigh comments, “It is very pleasing to see such robust brand value growth across the board when the countries of the Gulf are surrounded by troubled nations. Mena brands are not just surviving this tricky period but are thriving, growing in importance within their domestic markets and in many cases out-competing international brands. They are emerging from their position of regional significance and becoming international brands themselves, adapting or changing their identities to suit global markets.”

The first 10 brands are Emirates (UAE), STC (Saudi Arabia), Etisalat (UAE), Qatar Airways, QNB (both Qatar), Sabic, Mobily, Almarai, Al-Rajhi Bank (all Saudi Arabia) and Emirates NBD (UAE).

TOP BRANDS IN THE STATES

UAE brands in the top 50 are Emirates, Etisalat, Emirates NBD, du, National Bank of Abu Dhabi, Etihad Airways, First Gulf Bank, Emaar Properties, Abu Dhabi Commercial Bank, Dubai Islamic Bank, Abu Dhabi Islamic Bank, Taqa, RAKBANK, Mashreq, DP World, Union National Bank.

Saudi Arabia: STC, Sabic, Mobily, Almarai, Al-Rajhi Bank, Samba Financial Group, Riyad Bank, SABB, PetroRabigh, Afia, Arab National Bank, Saudia, Banque Saudi Fransi, Panda, Nadec, Saudi Hollande Bank, Alinma Bank.

Qatar: Qatar Airways, QNB, Ooredoo, Commercialbank, Doha Bank, Qatar Islamic Bank.

Kuwait: Zain, NBK, Kuwait Finance House, Americana, Agility. Iraq: Asiacell
Oman: Omantel, BankMuscat. Egypt: Orascom Construction Industries, Telecom Egypt. Jordan: Arab Bank. 2015 brand values are calculated in US dollars with a valuation date of January 1, 2015.

Brand Finance is the world’s leading brand valuation and strategy consultancy, with offices in over 15 countries. “We provide clarity to marketers, brand owners and investors by quantifying the financial value of brands,” the company says. “Drawing on expertise in strategy, branding, market research, visual identity, finance, tax and intellectual property, Brand Finance helps clients make the right decisions to maximise brand and business value and bridges the gap between marketing and finance.”