Paris has surpassed Tokyo and Hong Kong as the most important global retail market.

According to the newest edition of global property advisor CBRE's How Global is the Business of Retail?, Paris is the world's hottest global retail market, attracting 50 new businesses last year, and France is the leading country for new entries. qatar west bay

The entire footprint of global retailers rose by 1.7 percent at the national level, according to the 2014 report, which tracks retailer movements in 2013. More than half of retailers (51%) now operate in all three major global regions: the Americas, Europe, Middle East, and Africa (EMEA), and Asia Pacific, up somewhat from last year.

In 2013, retailers concentrated on more mature markets, with 18 of the top target cities being mature markets, up from 14 the year before. Throughout the year, 83 percent of survey cities saw at least one new entrant (up from 81 percent the year before), with the top target markets seeing a 28 percent increase in new entrants.

The number of new entries at the city level increased by 26% year over year, with more shops crossing borders to expand their companies. Paris has become one of the most appealing locations for retailers, with 50 new additions this year, including 10 new Luxury & Business Fashion brands. In 2013, three new retail centers opened in Paris, but it was the prime high-street locations that drew the majority of global businesses. Due to increased demand from tourists, particularly from China, competition amongst luxury labels on these high streets is severe.

France also came out on top of the list of hottest countries, beating out Japan and Hong Kong. In France, there has been a resurgence of market confidence. Due to substantial interest from worldwide retailers for the limited amount of accessible prime space, rents have risen to decade highs in Paris, which was the major point of entry for many shops. Retailers chose nine other French cities as their first store locations in addition to Paris.

Tokyo is the second most appealing location for global retailers, with double the number of new entrants (48) in 2013 compared to 2012, indicating renewed confidence in Japan's economic prospects. A total of 24 new recruits came from the United States, with another 18 from Europe. With 43 and 42 new entrants, respectively, Hong Kong and Abu Dhabi were the third and fourth 'hottest' markets.

Despite the fact that London has the most worldwide brands of any city, it nonetheless welcomed 31 new market entries last year. Beijing, Moscow, Shanghai, Frankfurt, Taipei, and Singapore were among the top ten cities.

"The improving economic prospects in Western Europe and North America are leading global retailers to refocus their expansion plans on mature markets and the world's major retail destinations, with Paris, Tokyo, London, and Berlin the top targets," CBRE EMEA Senior Director of Cross Border Retail Jose Luis Martin said. Retailers are also focusing on reclaiming European markets, as well as Asian and South American locations where they are still underrepresented."

"Global shopping center development is also at an all-time high, allowing retailers to expand into new countries, particularly in Asia, Latin America, and Eastern Europe," says the report. Owners are investing a significant amount of money in redesigning, extending, and refreshing their existing centers, and obtaining major international brands is a critical component of this strategy."

"The expansion of the internet environment has boosted the importance of the brand - not only among luxury merchants, but throughout the retail spectrum, with consumers seeking aspirational labels as well as high street and value options, and this is driving demand for new stores," says the report.

By far the most global are merchants from the Americas, with 80 percent operating in all three regions, compared to 48 percent in Europe and 25 percent in Asia Pacific. The maturity of the American market has prompted retailers to expand their worldwide reach and transcend borders in order to grow their businesses. 40 percent of cross-border movements by American retailers were into EMEA, 35 percent were into Asia, and only 18 percent were into other nations in the Americas region.

"The maturity and congestion of the American market is encouraging retailers to look outside their national borders in order to pursue development," said CBRE Senior Managing Director of Retail Services Naveen Jaggi. With at least one American retailer entering 45 of the 61 countries surveyed, retailers from the United States were by far the most active in their expansion.

"For American retailers looking to expand outside of their native region, London remains the most attractive market. Since 2012, the percentage of American retailers with a presence in London has increased by 4.2 percent, and two-thirds of retailers from the Americas now have a presence in London."

Globally, the Luxury and Business Fashion sector had the highest share of new market entries (24 percent). This industry accounted for a third (32%) of all new entries to the Americas, which is a direct consequence of the improving outlook for US consumption. In EMEA, luxury and business fashion stores were also quite active, accounting for 24% of new arrivals.