Two Southeast Asian giants have emerged as regional powerhouses according to a recent report by Brand Finance. Marina Bay Sands Singapore and Viettel, a Vietnamese telecommunications leader, have secured coveted spots on the prestigious list of the world’s 25 strongest brands for 2024.
Marina Bay Sands: A Leisure and Tourism Behemoth
Marina Bay Sands Singapore, a household name in the global leisure and tourism industry, has solidified its position as not only the strongest brand in Southeast Asia but also the 4th strongest leisure and tourism brand globally in 2024. This impressive feat is underscored by their brand strength score of a remarkable 91.8, a significant increase of 5 points compared to the previous year.
The brand’s equity ranking has also skyrocketed, jumping a staggering 369 spots to reach 366th place in the world. This meteoric rise is a testament to Marina Bay Sands’ continued success in captivating audiences and establishing itself as a premier leisure and tourism destination.
Viettel: A Telecommunications Powerhouse
Viettel, Vietnam’s leading telecommunications company, has further cemented its position as the second-strongest brand in Southeast Asia. Boasting an impressive brand strength index of 89.4, Viettel has garnered significant global attention. This score propels them to the impressive 14th place among the world’s strongest brands.
However, Viettel’s global brand equity ranking experienced a slight dip of 7 positions, landing at 241st place. This suggests a potential disconnect between Viettel’s powerful domestic presence and its international brand recognition. Despite this, Viettel’s extraordinary brand strength score highlights its deep connection with the Vietnamese market, particularly in its commitment to digitalization and sustainability initiatives.
Understanding Brand Strength
Brand Finance, the global consultancy behind this report, specializes in helping companies understand the true value of their brands. Their brand strength index is a comprehensive metric that takes into account three key pillars: brand investment, brand equity, and brand performance.
- Brand Investment: This pillar focuses on a company’s efforts in building brand loyalty and market share. It considers factors like marketing expenditures and customer service initiatives.
- Brand Equity: This pillar delves into how various stakeholders perceive the brand. Brand Finance incorporates market research data from over 150,000 respondents across 38 countries and 41 sectors to assess brand equity.
- Brand Performance: This final pillar evaluates the brand’s success in achieving tangible market and financial results. It considers metrics like sales growth, market share, and profitability.
By analyzing these three pillars, Brand Finance provides a holistic view of a brand’s overall strength.
The Future of Southeast Asian Brands
The success of Marina Bay Sands and Viettel paves the way for a brighter future for Southeast Asian brands on the global stage. As regional companies continue to prioritize brand building and strategic investment, we can expect to see more Southeast Asian names climb the ranks in the years to come.
