Summit brings together more than 8,000 industry leaders from over 100 countries
The UAE continues to perform exceptionally well, both against other countries from the region but also the world at large. The total value of the 16 UAE brands in the list is $27.9 billion, more than that of any other country. Despite having the most brands (21) Saudi Arabia's total is lower, at $26 billion.
Emirates has consistently dominated the Brand Finance Middle East 50, with a brand value far in excess of both direct competitors and brands from other sectors. It continues to soar. Brand value growth of 17 per cent takes its total to over $7.7 billion and sees it pull further ahead of the field. The airline continues to invest in ventures that enhance its brand's reputation. In mid-2015, Emirates spent $20 million to secure 'Friends' star Jennifer Aniston in an advertising campaign, which appears to have translated into improving brand strength. The scores for metrics such as preference, satisfaction and recommendation have all improved this year but those most closely tied to advertising, familiarity and consideration, have improved the most.
RAKBank is the only brand to have decreased in value. Bad debt incurred amidst slow economic growth affected profitability and was the principal cause of the 19 per cent decline to $475 million. RAKBank's loan impairments have hindered the bank's ability to combat economic pressures and have also had a slight impact on brand strength, with its brand rating downgraded from AA- to A+. - business@khaleejtimes.com
Summit brings together more than 8,000 industry leaders from over 100 countries
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Dubai FinTech Summit kicked off on Monday with over 200 exhibitors