More interesting news for London-based businesses, or for those considering opening a London office, as we learn that the city has retained its position as the world’s most international retail market, just keeping out Dubai. Earlier in the month, we learned that London was the world’s second most global city. This week a report on global retail from CB Richard Ellis announced that London was No.1 in the global retailer stakes.
The latest edition of ‘How Global is the Business of Retail?’ surveyed the global footprint of 294 of the top international retailers across 69 countries and reported that 56% of the brands had a presence in London, making it the dominant retail city in the world. Indeed the UK as a whole has also maintained its position as the world’s most international retail market.
Dubai in second place at 55% – is closing in on the leader, however, with Paris and New York in 3rd and 4th place. The rest of the top 10 is – unsurprisingly – dominated by the Far East. The full report is available for download.
Yet more evidence that the city is retaining it’s economic clout, despite the recession and the growing strength of its Asian competitors. Clearly, if you are setting up a business, expanding or looking to globalise, London premises would still appear a smart move, as the city is still very much the place to be.
I find it interesting that both this survey and Global Cities Index, were not mentioned in any of the traditional British media – probably because it’s positive news, and they are only really interested in reporting doom and gloom. If anyone tries to convince me we’re on the way out and all going to hell in a handbasket, I’ve got the statistical evidence to prove otherwise!
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