Posted on May 06, 2015

Qatar has 6 brands out of the top 50 brands in MENA in 2015, with a combined brand value of US$ 8.205 billion, according to a recent study published by Brand Finance, the world’s leading brand valuation and strategy consultancy.

According to the study The Brand Finance MENA 50 , Qatar Airways is the 4th most valuable brand in the MENA ,with a brand value of $2,774 million, followed by QNB at 5th position, with brand value of $ 2,603 million and Ooredoo at  11th spot, with brand value of $ 1,740 million, Commercial bank (41st) with brand value of $ 413 million, Doha Bank (47th) with brand value of $ 358 million and Qatar Islamic Bank (48th) with brand value of $ 317 million.

Every year, leading brand valuation and strategy consultancy Brand Finance puts thousands of the world’s top brands to the test, including the top 50 in the Middle East. They are evaluated to determine which are the most powerful, and the most valuable.

The Brand Finance MENA 50, the definitive list of the Middle East’s top 50 most valuable brands, is now in its eighth consecutive year. The rapid brand value growth that took place between 2013 and 2014 has continued. The total brand value for the Middle East’s top 50 brands has increased 23% between 2014 and 2015 from $50.3 billion to $61.7 billion. This does not merely reflect a very large jump by a small number of the largest brands, brand values are growing strongly across the board. 44 of the 50 brands have recorded double digit brand value growth rates over the last year, some by as much as 91%.

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%, the rate for Qatari brands is nearly double that at 47%. The Middle East’s two fastest -growing brands are both from Qatar; Qatar Islamic Bank has risen 91% and Ooredoo 82% helped in part by the rebrand of providers in markets such as Algeria, Tunisia, Kuwait and Oman under the Ooreedoo master brand.

6 of the Top 50 MENA 1 [qatarisbooming.com].jpgThe rebrand to Ooredoo highlights an encouraging trend among brands in the region; internationalisation. Unlike QTel (Qatar Telecom), the new name is free of national associations, making its smooth adoption in foreign markets much more likely. Other brands include National Bank of Abu Dhabi (which is using the acronym NBAD in preference to the full name) to limit its national, institutional associations and instead steadily develop a reputation as an international player. Other brands following the same path include National Bank of Kuwait (now known as NBK) and First Gulf Bank (FGB) which successfully refreshed its brand last year. This branding trend points to the growing power of Middle Eastern brands on the international stage and the resulting need for branding to reflect the needs of all markets.

The UAE is top when the brand values for each country are totalled. It has reclaimed the title from KSA, which last year pulled ahead for the first time. The combined value of all 16 Emirati brands is US$25.5 billion, while the 17 brands from KSA total US$21.7 billion. The average brand value to enterprise value ratio (BV/EV) for the region is growing. The figure was 7.2% in 2013 (the same as in 2010) but rose to 8.1% in 2014 and to 10.7% this year. This change shows that brand values are not just increasing in line with company expansion. It demonstrates that Middle Eastern enterprises are starting to more effectively develop their intangible assets and maximise their contribution to business value.

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.”

Click here to view the tables.

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