Riding the wave of change propels value of Kantar BrandZ Top 30 Emirati and Saudi brands to $97 billion
Now in its fifth year, the ranking draws on the opinions of 52,000 consumers about 672 brands across 41 categories in the UAE and KSA. Fueled by a period of large-scale economic development, the Kantar BrandZ Most Valuable Emirati & Saudi Brands have collectively grown their brand value by 93% over the last five years and are today worth $97 billion. This compares to 66% brand value growth for the Global Top 100 over the same period.
Brands have shown that they can meaningful and different to their audiences in addition to diversifying into new spaces, being more present and predisposing more people to buy at the right price. In short, resonating with the end consumers’ aspirations.
In this year’s brand ranking report, Saudi insurer Tawuniya is the fastest-rising brand overall, up 76% to $1.2 billion. Finding new spaces for growth by diversifying into financial services, healthcare, and car maintenance, this highly trusted insurance brand is making its mark with its customers.
Tawaniya and following changes in regulation, its recent partnership with fintech startup Hakbah supports the government’s goal of promoting financial inclusion, while offering enhanced financial security to Hakbah’s customers.
Dairy and food brand Saudia is the second-fastest riser. It grew 50% to $821 million, rising four places in the Saudi brand ranking. The brand has benefited from consumers turning to more local brands and its continued drive to enhance the daily cooking experience.
Real estate brand Aldar is the fastest-growing Emirati brand, growing by 47% to $1.1 billion. Capitalising on the booming real estate market, Aldar expanded its luxury offerings to cater to the growing number of high-net-worth individuals interested in its deluxe hotels and newly built, walkable residential enclaves.
Premium brand positioning
The strongest brands justify charging a premium by being seen as ‘worth it’. More than three quarters (87%) of brands in the Emirati and Saudi Top 30 score highly on the most important drivers of a consumer’s willingness to pay more for a brand, by being seen as Meaningful and Different.
Two Emirati brands that have consistently justified their premium price proposition are airline Emirates, which grew its brand value by 15% to $6.2 billion, and real estate giant Emaar, which grew 25% to $4.4 billion.
Amol Ghate, Managing Director MENAP, Insights Division at Kantar says: “Brands all over the world can look to Saudi and Emirati brands as exemplifying what can be achieved by those businesses that are relentless in their pursuit of brand growth and follow a clear blueprint. Over the last five years, the sustained growth achieved by top Saudi and Emirati brands has reached an incredible $47 billion. In terms of being Meaningful and Different, these brands have surpassed the global brand average, which is a clear testament to their brand strength. Yet, more than 60% of brands in the region still have low meaning amongst their consumers and are not seen as different. Brands that can better understand consumer needs and connect their brands in relevant and unique ways will find growth.”
The Kantar BrandZ Top 10 Most Valuable Emirati Brands 2024
Nine out of ten brands have returned to the Emirati brand ranking, led by telecom giant e& (etisalat and ) with a brand value of $7.3 billion.
Multi-specialty hospital brand Burjeel enters the Emirati brand ranking for the first time. As the UAE becomes a major destination for medical tourism.
For the first time in five years there is a new number one Saudi brand, Al Rajhi Bank ($14bn; +11%). Saudi Arabia’s best domestic bank exemplifies the spirit of transformation that is driving the Saudi economy. Expanding its digital footprint, Al Rajhi Bank has embraced new forms of marketing – recently becoming the first Saudi bank to have an active TikTok account.
Telecom brand STC, which held the number one position for the last four years, moves to No.2 in the Saudi ranking.
