Research shows the UAE is most valuable brand in Middle East, ahead of Saudi Arabia's $575bn
The UAE's international brand value is the highest in the Gulf at nearly $600 billion, according to a new study.
Research by the London-based consultancy Brand Finance found that the UAE topped the regional rankings with a brand worth $594 billion, placing it 21st globally.
It ranked ahead of Saudi Arabia, which has the largest economy in the Middle East, which has a brand value of $575 billion, a 19 percent rise on its previous value.
The report showed that Qatar’s brand value dropped by 6 percent, and was now ranked 42nd globally. Qatar - which has been accused of supporting terror groups by several of its neighbours - has a brand value of $223 billion.
Kuwait was ranked 51st with a brand value of $170 billion, followed by Oman (70th) with $50 billion and Bahrain (86th) with $28 billion.
The UAE, meanwhile, was the third-strongest nation brand in the world after Singapore and Switzerland - a sub-category that does not count the money-making potential of the nation brand.
“In the Middle East, the UAE is the absolute champion of nation brand management. It is the world’s third most powerful, coming behind only Singapore and Switzerland, and the most valuable as well as fastest growing nation brand in the region,” said Andrew Campbell, managing director of Brand Finance Middle East.
Globally, the United States remained the world’s most valuable brand with a valuation of $21.1 trillion, followed by China and Germany.