London-based valuation firm Brand Finance published the rankings for the second time following its 2019 edition which coincided with the last Rugby World Cup in Japan.

The three-time Rugby World Cup winners New Zealand retained its place at the top of the standings, with the All Blacks' brand calculated at $282 million (£232 million/€268 million), a rise of around 52 per cent from 2019.

England stayed second with an estimated value of $263.8 million (£217.2 million/€250.1 million), helped by the highest revenue among the national rugby brands, its status as a popular spectator sport and high participation levels.

This represents a 71 per cent increase on the last report.

This year's Rugby World Cup hosts France are up 84 per cent to $159 million (£131 million/€151 million) in third place, supported by home advantage for the current tournament and strong recent results.

Ireland have emerged as serious contenders to win the Rugby World Cup for the first time, and enjoyed the fastest growth among the nations ranked.

They climbed from sixth to fourth with a 94 per cent increase to $150 million (£124 million/€143 million).

Wales dropped from third to fifth with a valuation of $132 million (£109 million/€126 million), and World Cup holders South Africa have moved down a place to sixth with $117 million (£97 million/€111 million).

Australia, knocked out in the group stages at France 2023 for the first time since the Rugby World Cup launched in 1987, stayed seventh with $101 million (£83 million/€96 million).

The rankings were completed by Scotland with $54 million (£45 million/€51 million), Japan with $23 million (£19 million/€22 million) and Italy with $22 million (£18 million/€21 million).

Japan are the only team whose valuation has decreased, down from $50 million (£41 million/€48 million) in 2019 when they hosted the World Cup.

Brand Finance calculated the value of each national team brand through a process requiring it to estimate future revenues attributable to a brand, calculating a royalty rate that would be charged for its use were it on the market.

New Zealand additionally ranked top of its brand strength index with a score of 88.9 out of 100, calculated "through a balanced scorecard of metrics including marketing investment via social media, stakeholder equity such as heritage, and business performance through revenues from sponsorship, merchandising, and so on".

England were second with 87.6, followed by France with 83.9.

The Rugby World Cup knockout phase is due to begin today with quarter-finals, with the seven-week tournament concluding on October 28.