Germany is the number one target destination for retailers looking to expand their international presence in 2011, CB Richard Ellis has said in a new report published at Mapic in Cannes.
Two of the reasons for Germany's popularity are the country's strong economic growth and a relative lack of international retailers. This has allowed Germany to maintain its leading position as the most attractive retail market in the Europe, Middle East and Africa (EMEA) region, with 41% of retail brands planning to open a store there next year, according to CBRE's research.
Poland emerged as the second most popular retail market in the region, with 33% of retailers targeting the country, followed by France (33%), Spain (30%), and the UK (29%) to round out the top five most popular markets for retailer expansion in 2011.
CBRE's report 'How Active are Retailers in EMEA?' examines the attitudes and 2011 expansion plans of 212 leading retailers, based on interviews conducted over the summer of 2010.
Before the end of 2011, international retailers intend to expand their store networks into 38 countries across EMEA, reflecting their ambitious and growing expansion plans across a wide range of markets. Whilst the core Western European markets remain a popular target, representing seven of the top 10 country targets for expansion next year, many retailers are now also preparing to expand into the emerging markets of the region, according to CBRE.
This is backed by the number of emerging markets which have risen into the top destinations list for 2011, now accounting for half of all the top 20 targeted countries. Moreover, 41% of retailers are targeting at least one country in Central Europe and 39% are targeting Southern Europe.