The World's 10 Hottest Retail Markets, by CBRE
Paris, which attracted 50 new cross-border retailers last year, was the world’s hottest retail market in 2013, followed by Tokyo, Hong Kong (displaced from its 2012 first-place position), Abu Dhabi and Berlin, according to CBRE’s latest “How Global Is the Business of Real Estate?” report. But, emerging markets like Hangzhou, China and Hanoi, Vietnam, experienced the biggest increases in cross-border activity, with new large shopping centers enabling more global retailers to enter these markets. The annual report, now in its seventh year, tracks the cross-border movements of 334 large retailers across 189 cities in 61 countries.
“Retailers based in the Americas continue to dominate cross-border retailer activity, and are increasingly global in their outlook,” the report notes, adding that “Italian, British and French retailers were also highly active last year, focusing mainly on their own region, although Asia, with China and Hong Kong in particular, were also key targets.”
Asia Pacific-based retailers, on the other hand, have a much smaller global footprint; more than half operate only in their own region. “This is unlikely to change in the short term as Asia still offers substantial opportunities for Asian (and other cross-border) retailers due to the urbanization of large cities, growing middle class populations and the potential further easing of Foreign Direct Investment (FDI) restrictions in emerging markets such as India and Vietnam.”
The top 10 target markets for global retailers are:
- Hong Kong;
- Abu Dhabi;
- Shanghai; and
Add a Comment
We welcome your thoughtful comments. Please comply with our Community rules. All comments will display your real name.