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Middle Eastern brands outpace global brand value growth rate

21 January 2025
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Middle Eastern brands among the world’s top 500 grew at a rate of 23% in 2025, over twice the 11% growth rate of those from outside the Middle East according to a new ranking from Brand Finance

  • Aramco leads as the Middle East’s most valuable brands
  • stc is the strongest brand in the Middle East with AAA brand rating
  • e& is the world’s fastest growing brand value, posting an eight-fold increase following consolidation of brand architecture
  • ADNOC’s 25% growth makes it the fastest growing energy brand
  • Apple is once again the world’s most valuable brand, with Microsoft and Google claiming 2nd and 3rd

LONDON, 21 January 2025 – All nine Middle Eastern brands in the world’s top 500 are growing in brand value, according to a new report from Brand Finance, the world's leading brand valuation consultancy. Aramco remains the region’s most valuable brand at USD41.7 billion, though its growth has been the smallest among Middle Eastern brands, signalling a narrowing gap. ADNOC, the Middle East’s second most valuable brand, has recorded strong brand value growth of 25% to USD19.0 billion. This makes it the fastest growing energy brand in the Global 500.

David Haigh, Chairman and CEO of Brand Finance, commented:

“Middle Eastern brands continue to make their mark on the global stage, with a combined USD127.4 billion brand value contribution to the Brand Finance Global 500 2025 ranking. Saudia Arabia leads the region, contributing USD75.5 billion with five Saudi brands, each increasing in brand value, among the world’s top 500. In the Middle East, telecom and banking giants like stc, e&, QNB, Al-Rajhi Bank, and SNB continue to drive growth, each climbing in both position and brand value, underscoring the rising influence and global competitiveness of Middle Eastern brands.”

This year, stc achieves the significant milestone of becoming the 9th most valuable telecoms brand globally. stc is also the strongest brand in the Middle East with a Brand Strength Index (BSI) score of 88.7/100 and an AAA brand rating — marking a slight strengthening of the brand since last year. With a 16% rise in brand value to $16.1 billion, stc ranks as the third most valuable brand in the region and holds the title of the most valuable telecoms brand in the Middle East.

These achievements reflect the successful consolidation of their Masterbrand strategy which has enabled an extension of the brand into new categories such as banking, cybersecurity and the development of B2B and IT offerings through strategic M&A initiatives, so strengthening stc's leadership in the region and beyond.

e& is the fastest growing brand value in the world this year, posting an eight-fold increase in brand value to USD15.3 billion. This is the final stage of a 3-year group rebrand, staged to transition brand equity from Etisalat to e& as a platform for international growth. The like for like brand value growth is 13% versus the combined value of the brands in 2024. Nvidia has the highest like for like growth - 98% - making it the second fastest growing brand value for 2025.

Apple is once again the world’s most valuable brand, with its brand value rising 11% to USD574.5 billion. This growth keeps Apple ahead of its closest rival, Microsoft, whose brand value grew 35% to USD461 billion. Except for 2023, when Apple briefly trailed Amazon by a margin of just 1%, it has held the top spot as the world’s most valuable brand since 2021. Google, the world’s third most valuable brand, saw its brand value increase by 24% to USD413 billion. Ongoing investments in AI have enhanced Google’s reputation for innovation while strengthening its consumer appeal and trust.

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About Brand Finance

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 evaluating marketing investment, stakeholder equity, and business performance, 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.

Definition of Brand

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

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 Valuation Approach

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.

Disclaimer

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.

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