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Emirates has been the most valuable brand in the Middle East ever since Brand Finance initiated its ranking in 2010 and the Dubai-based airline has been top of its industry at a global level for the last five years. However 2017 sees a dramatic shift.
According to Brand Finance's Middle East 50, (The annual report on the world's most valuable Middle Eastern brands), Emirates' brand value is down 21 per cent to $6.1 billion. This sees it lose its place at the top of its industry; three US brands (American, United and Delta) have overtaken it. Even more dramatically however, Emirates has lost its place as the Middle East's most valuable brand to STC.
STC grew 11 per cent in value this year to US$6.2 billion. Brand Finance Middle East Managing Director Andrew Campbell comments, "The Riyadh-based giant demonstrates a departure from its once traditional approach; it is embarking down a path...