Dubai retained its position at 2nd among most important retail market in the world
Dubai is always keeping the position at top by attracting the rest of the world for International Tourism and shopping. In the fourth consecutive year also Dubai has retained its position as the second most important international shopping destination globally, closely behind London. This was unveiled by real estate consultancy firm CBRE, as reported by Arabian Business in last week. The 2015 edition of “How Global is the Business of Retail?” showed that Dubai has a presence of 55.7% Shanghai, New York and Singapore make up the rest of the top five international cities for retail representation with 53.4, 46.3 and 46 percent respectively, the CBRE rankings showed. The report showed that the traditional retail triumvirate of London, Paris and New York continue to be challenged and in some cases overtaken by cities from Asia Pacific and the Middle East.
“This trend is likely to continue and there will be a day when we see a new number one atop the overall retail penetration rankings,” CBRE said.
