Exploring the analytics for linking consumer-based brand equity (CBBE) and financial-based brand equity (FBBE) of destination or place brands

Brand equity, both with a financial and perceptual focus, has preoccupied researchers for about four decades. Since financial equity is assumed to depend on perceptual equity, more attention has recently been diverted to perceptual equity indicators. Despite the increasing focus on consumer-based brand equity (CBBE), its assumed relationship with the financial-based brand equity (FBBE) has not been substantiated with empirical evidence. This relationship is especially critical for place management authorities such as municipalities, councils, and destination marketing organizations, whose functions are under scrutiny for justifying their budgets that are usually supported with public taxes. The current study investigates this relationship by measuring and ranking the CBBE and FBBE of destination brands. Analysis included consumer data on CBBE components of familiarity, image, quality, consumer value, brand value, quality, and loyalty besides public data on financial equity for destinations, including the number of visitors, market share, tourist spending, tourism taxes, and tourism jobs. CBBE rankings and FBBE rankings did not match for any destination included in the study. Keeping in mind the lack of time series data in both CBBE and FBBE indicators, future research suggestions are provided for progress in understanding the link between CBBE and FBBE.