Cities in Central and Eastern Europe (CEE) dominate the ranking of the top 20 new-destination cities to be targeted by cross-border retailers over the next five years, with Moscow in the number 1 position, followed by St Petersburg and Prague. The UAE and Russia come top for expansion plans.
Cities in Central and Eastern Europe (CEE) dominate the ranking of the top 20 new-destination cities to be targeted by cross-border retailers over the next five years, with Moscow in the number 1 position, followed by St Petersburg and Prague. The UAE and Russia come top for expansion plans.
The ranking is part of the annual 2007 International Retailers' Survey, commissioned by Real Estate Publishers (REP) in association with the International Council of Shopping Centers (ICSC), and produced by global real estate consultant Cushman & Wakefield.
The only Western European city in the top ten is Amsterdam, which shares 10th position with Kiev. This year's risers are the capital cities of the newest members of the EU. Sofia and Bucharest both rose two places to 6th and 7th respectively.
The survey interviews property executives responsible for international expansion at 250 retail companies from 23 countries across Europe. The survey focuses on retailers' views on expanding across border, their expansion plans, and the main issues affecting these plans. For the first time, retailers were also asked about sustainability.
'Central and Eastern Europe, in particular Russia, is still clearly seen as the land of opportunities for many cross-border retailers. At the same time, we are also seeing retailers with their origins in CEE expanding internationally,' said Marinus Dijkman, president and CEO of REP.
