Santa Claus was one of the first international businesses — and now his brand has been valued at $1.6 trillion by a top UK analyst.

The global value of the Santa brand outstrips tech giants Apple — the biggest value brand on the planet this year — which came in at only $87.3 billion.

David Haigh, CEO of London-based Brand Finance said: “Santa is the gold — or should that be the red and white — standard when it comes to branding.

“Recognised the world over, his team have done a meticulous job of managing his image and building his profile whilst keeping him relevant to successive generations.”

The firm used a similar analysis on Santa to that they apply to other major brands to calculate the annual economic value of the Santa brand.

They looked at areas like travel, retail and hotels to value Santa, as well as the festive period boost, then applied a royalty rate to reach the final figure.

Nicole Warren, the retail spokesman for the Bermuda Chamber of Commerce and general manager of Brown & Co, said the valuation of Santa, who will be making a personal appearance at sister store the Annex toy store on Saturday morning, did not come as a surprise.

She added: “Santa is definitely a draw, there is no question. He is the icon that pulls Christmas together.

“The entire retail sector is grateful for Santa and he is the benchmark for children on whether they have been naughty or nice.”

She added that Bermuda — with a strategic position between Europe and North America, one of the draws for other international business — was an easy stopover for Santa, despite his pre-Christmas workload.

A spokesman at Santa’s HQ in Lapland confirmed that he would be appearing at a number of venues around the Island, including the Washington Mall on Friday evening and Sunday afternoon.

The spokesman added: “Bermuda is not Santa’s biggest market, but he views it as an important one. Plus, it’s minus nine degrees centigrade in Lapland today (15.8F), so he’s glad to get somewhere a bit warmer for a few hours at least.

“He does dress for the weather, of course, but he’s only flesh and blood, after all and even he needs a little break from work occasionally.”

He added: “We looked at the brand valuation with interest — it’s too early to say, but if we ever were going to have a public flotation, we’ve heard nothing but good things about the Bermuda Stock Exchange and the regulatory environment in Bermuda.”

He added: “Everybody knows Santa, so the Bermuda Monetary Authority would have no problems knowing the customer and an international business like ours.”

The spokesman added: “And if we ever decided to base ourselves offshore, the likes of the Caymans — which has been quite naughty in the past — can forget it. Bermuda is definitely nice and number one.”

He added: “We’ve heard it’s easier to get work permits for wealth generators as well, which is good because we’ve got a lot of elves. But they’re only little so we’re sure that nice Minister for Home Affairs Michael Fahy will allow us at least two elves for every human-sized work permit.”

Ms Warren added: “Retail allows dollars to circulate and without major circulation of money, the economy can collapse. It’s the oil that keeps the engine moving for any economy.

“Black Friday brought some major excitement for the retail industry and many retailers are pleased so far, but the best nine shopping days are still to come. Our fingers are crossed for an excellent Christmas.”

Mr Haigh added: “There are many sceptics who suggest Santa is a fake and nothing more than a marketing gimmick — any such rumours are entirely spurious of course.

“There is no doubt that Santa Claus is the world’s most valuable celebrity brand and it’s no wonder that brands from Coke to VW to KFC want his endorsement.”