COLOMBO, 2nd January 2025 – Colombo continues to strengthen its position as a leading destination in South Asia, offering notable accessibility and liveability by ranking 33rd globally for ‘easy to get visa’. The introduction of visa-free entry for nationals from 35 countries may have significantly boosted the city's appeal, making it one of the easiest South Asian cities to visit.
The Brand Finance Global City Index results are based on insights from over 15,000 respondents across 20 countries, who rated 100 cities on Key Performance Indicators such as Familiarity, Reputation, and Consideration. These measures illustrate the degree to which each city is perceived as an ideal place to live, work, study, visit, retire, and invest in. Respondents were also invited to select from 45 attributes grouped under seven pillars, including Business & Investment and Culture & Heritage, in associating attributes with city brands.
Complementing its accessibility ranking, Colombo ranks 74th for its healthcare system, moving up ten places from 2023. Home to internationally accredited hospitals and state-of-the-art medical facilities, the city provides accessible healthcare services supported by both public and private sectors, attracting patients seeking specialised care.
By prioritising scientific advancement and fostering a dynamic tourism sector, Sri Lanka is poised to solidify its position on the global stage. This strategic approach not only enhances the nation's appeal to discerning travellers but also fuels economic growth through innovation and technological development. As Sri Lanka continues to nurture a vibrant and progressive society, it is well-positioned for sustained success in the international arena.
Ruchi Gunewardene, Chairman, Brand Finance Lanka, commented:
"Colombo’s remarkable strides in accessibility, healthcare, and science and technology reflect its commitment to providing a world-class urban experience for visitors and residents alike. Sri Lanka’s reemergence from last year’s political challenges highlights the resilience of its people and the vibrancy of its capital, positioning Colombo as a beacon of hope and progress in South Asia."
In addition, the Brand Finance Sri Lanka 100 2025 journal, showcasing Sri Lanka's most valuable and strongest brands, will be released in spring of 2025. This detailed analysis highlights brand performance, market trends, and key strategies shaping the business landscape.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.
Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 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 over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.
Brand Finance is a regulated accountancy firm, leading the standardization 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.
