Brand Finance’s second annual Marathons 50 report reveals New York City as most valuable Marathon Major brand and world’s favorite among international runners, as race marks 50 years of five-borough course
NEW YORK CITY, 30 October 2026 – As runners prepare to line up on Staten Island this Sunday for the 50th anniversary of the five-borough course, the TCS New York City Marathon has the greatest economic impact of any marathon globally, according to a new report from Brand Finance, the world's leading brand valuation consultancy. 2025’s race generated an estimated USD857 million in economic impact for New York City, ahead of the Bank of America Chicago Marathon (USD803 million) and the TCS London Marathon (USD604 million), and the economic contribution of this weekend’s race could hit USD1 billion.
Now in its second year, the Brand Finance Marathons 50 2026 is the world’s most comprehensive study of marathon brands, and this year measures brand strength through the eyes of runners. Brand Finance surveyed more than 9,400 respondents across nine markets, including nearly 3,000 marathon runners, to rank more than 75 marathons on awareness, reputation, consideration and engagement. The 2026 study also identifies what matters most to runners when choosing a race, from prestige and atmosphere to location and organization.
This weekend’s race in New York City is expected to draw more than two million spectators across the five boroughs. New York’s economic impact is driven by the scale of its field and its international appeal. Brand Finance estimates that international visitors spend around 2.5 times as much as domestic visitors and stay for an average of 3.9 days. As a result, the race weekend fills hotels, restaurants and shops well beyond Sunday’s finish in Central Park.
New York City Marathon is world's favorite among international runners
New York City also ranks as the world's second-strongest marathon brand, with a Brand Strength Index (BSI) score of 92.3 out of 100, behind London (95.5). Brand Finance's 2026 research finds that New York City is the only marathon brand in the global top 10 whose international perceptions exceed its domestic score.
International runners give New York City top scores for awareness, familiarity, reputation, willingness to participate, and favorite-marathon status. They also rate its location, atmosphere, and spectator experience especially highly.
Demand for a place on the start line has never been higher. More than 240,000 runners from over 160 countries applied through the drawing for the 2026 race, almost 20% more than in 2025, with only around 1% of applicants accepted through this route.
Despite this demand, Brand Finance's research finds that New York City and Boston, ranked second and third for overall brand strength, trail the rest of the top 10 on domestic runners' willingness to consider taking part. This likely reflects the difficulty of securing a place rather than a lack of interest, with New York's heavily oversubscribed drawing and Boston's demanding qualifying standards limiting participation.
US marathons generate more than $2.2 billion for host cities
Elsewhere in the US, the Boston Marathon is the world's third-strongest marathon brand (BSI 85.9), while the Chicago Marathon ranks eighth (77.7). Houston (24th), San Francisco (29th), Los Angeles (34th) and Miami (37th) also feature in the global top 50.
Together, the seven US marathons in the ranking generated more than USD2.2 billion in economic impact for their host cities in 2025, accounting for over a third of the USD6 billion total generated by the world's top 50 marathons.
New York City also leads on brand value. At USD339 million, it is the most valuable of the seven Abbott World Marathon Majors in 2025 valued by Brand Finance, ahead of London (USD230 million), Chicago (USD149 million) and Boston (USD139 million). Combined, the seven Majors have a brand value of USD1.1 billion[1], more than the 10 most valuable Major League Soccer club brands combined.
Beyond their economic contribution, the world's top 50 marathon brands also raised USD434 million for charity in 2025, equivalent to approximately USD370 per runner. The top 10 marathon brands accounted for 76% of this total, underlining how major events such as New York City contribute to their communities well beyond race day.
Scott Moore, Head of Sports Services, Brand Finance commented:
"Fifty years after the race first took place in all five boroughs, the New York City Marathon has become one of the most powerful brands in global sport. Its economic impact could reach USD1 billion this year, highlighting the scale of its contribution to New York’s economy.”
“Our research shows how brand strength and economic impact go hand in hand. New York's international reputation, iconic course and extraordinary atmosphere attract runners and spectators from around the world, driving spending across hotels, restaurants and local businesses well beyond race day. As the world's most valuable Marathon Major brand, New York City demonstrates how a strong sporting brand can become a major economic asset for its host city.”
Beyond ranking the world's strongest marathon brands, the Brand Finance Marathons 50 report analyzes the commercial, economic and societal impact of marathon running. It includes original Brand Finance research into runners' motivations, training habits and wellbeing, identifying six distinct runner personas and exploring how marathons inspire healthier, more active communities. The report also examines how technology and sponsorship enhance the runner experience, and how major races can strengthen their host cities' international reputation and soft power. Industry perspectives from Tata Consultancy Services, Marathon Tours & Travel, Mastercard, New York Road Runners and World Athletics also feature.
[1]Since Brand Finance conducted its research, the number of Abbott World Marathon Majors has increased to eight, following the confirmation of the Cape Town Marathon as the eighth Major in June 2026.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
