UAE ranks top globally in brand performance, report finds

UAE ranks top globally in brand performance, report finds

The UAE ranked highest globally in 2022 in terms of brand performance, thanks to the government's successful response to the Covid-19 pandemic that allowed the country to open for business sooner than many other destinations, a report has found.

The Emirates has also attracted a higher volume of trade,tourism, investment and talent than other nation brands, according to the latest report by consultancy Brand Finance.

The UAE is a "positive exception" as brand performance has not yet returnedto its pre-pandemic levels for most nations in the ranking, the report said.

With global interactions in the crucial areas of trade, investment, tourism and talent attraction down across the board throughout 2021, most brand strength scores remain held back by the legacy of the pandemic, it said.

However, the UAE has bucked the trend and topped the charts with a score of 80.5 out of 100, the report showed.

The UAE economy is expected to grow by 5.4 per cent and 4.2 per cent in 2022 and 2023, respectively, after expanding by 3.8 per cent in 2021, according to the UAE Central Bank.

Emirates NBD, meanwhile, on Wednesdayraised its economic growth forecast for the UAE to 7 per cent for 2022, due to a higher estimate for the energy industry's output and the "robust growth" of its non-oil sector, setting up the country for its fastest annual expansion in more than a decade.

The latest revision from Dubai's biggest lender compares with an earlier 5.7 per cent estimate and would be the highest since 2011, when the economy grew by 6.9 per cent.