Saudi Telecom, UAE’s ADNOC ranked among world’s 500 most valuable brands

The Middle East is home to 5 of the world’s 500 most valuable brands, with notable performances from Saudi Arabia’s STC and UAE’s ADNOC and Etisalat, according to the latest Brand Finance Global 500 report.

Saudi Arabia’s Saudi Telecom (STC) was the only brand from the Kingdom included in the ranking. STC saw 7 percent brand value growth since last year to a brand value of $7.1 billion, noted the Brand Finance Global 500 report launching today at the World Economic Forum in Davos, Switzerland.

Abu Dhabi National Oil Company (ADNOC) is a new entrant to the Brand Finance Global 500 and ranked as the most valuable B2B brand in the MENA region, boasting a brand value of $8.9 billion by the report.

Valued at $8.3 billion, Emirati telecoms giant Etisalat remains the most valuable B2C brand in the Middle East and Africa, according to the report.

The report that lists the world’s most valuable brands and prepared by the brand valuation and strategy consultancy Brand Finance, lists Ferrari as the world’s strongest brand, with a score of 94.8 out of 100 and an AAA+ rating.

Amazon maintains its title as the world’s most valuable brand in the Brand Finance Global 500, growing nearly 25 percent to $187.9 billion, over $30 billion more than second place Apple.

Chinese tech giant iQiyi entered the Brand Finance Global 500 for the first time with a brand value of $4.3 billion, up 326 percent on last year’s valuation, making it the world’s fastest-growing brand this year, the Brand Finance Global 500 report noted.