By innovation-sa on October 28, 2017 in News
Kingdom’s International brand value escalated by 19 percent making it the second most valuable brand in the Middle East after the UAE, says research published by London-based business-valuation consultancy Brand Finance. With a brand value of $575 billion, Saudi Arabia ranks 22nd globally whereas USA tops the chart with a brand value of $21.1 trillion.
Andrew Campbell, Brand Finance managing director in the Middle East, pointed out the contribution of Vision 2030 in promoting the nation’s brand value. “Vision 2030 has had some success in changing perceptions of the nation. Provided the rest of (its) projects are implemented with the same success, the nation’s brand value can expect to rise extensively,” Campbell added.
With Sir Richard Branson, Virgin Group founder investing in the luxury Red Sea Project, the doors of international tourism have opened up adding to the international brand value. Moreover, the recent decision to grant driving license to women has assisted in changing the external perceptions of the Kingdom.