Changi has world's 2nd most valuable airport brand: report

Singapore

SINGAPORE'S Changi International Airport has the world's second most valuable airport brand value of US$754 million and also the world's strongest airport brand, according to a report by consultancy Brand Finance.

In terms of brand value, Changi was outranked by London's Heathrow Airport, which the report deems to have a brand value of US$919 million. Korea's Incheon International Airport came in third, with a brand value of US$737 million.

Brand value is calculated based on likely future revenues attributable to a brand by calculating a royalty rate that is charged for the use of the brand. This includes the value of the trade mark and associated marketing intellectual property.

In terms of airport brand strength, however, Changi clinched the top spot with a Brand Strength Index (BSI) score of 86.9 out of 100.

The BSI is calculated based on metrics assessing marketing investment, stakeholder equity and business performance.

Brand Finance said in its report: "Changi Airport is renowned for its world-class duty-free shops and transfer services as well as ease of access for passengers."

The report noted that Changi welcomes more than 65 million travellers annually and that it has recently built Changi Jewel, an "architectural masterpiece".

Of the new attraction, the report said: "Built across a 1,461,000 sq ft area, the new lifestyle hub has five stories above ground and five underneath, with attractions including a multi-screen IMAX cinema, a hotel, a full-size supermarket and 280 retail spaces."

Hong Kong International Airport and Incheon Airport ranked second and third globally in terms of brand strength, with BSI scores of 86.26 and 85.85, respectively.