New York, Paris and London have demonstrated that they retain the key fundamentals of a successful retail location and are set to bounce back quicker this year than other destination cities, according to Savills Retailer Attractiveness City ranking, produced as part of its 2022 global Impacts research program.
“These cities all benefit from affluent domestic markets and have already demonstrated far higher levels of resilience over the last 18 months,” said Marie Hickey, director of retail research at Savills. “New York (ranked first), suffered relatively less during the pandemic due to a robust domestic tourism market and a lower penetration of ecommerce in Paris (second) has steered costumers to its bricks and mortar luxury stores.”
In comparison, cities such as Hong Kong (fourth), which depend on a steady stream of inbou