Dubai in list of world's best shopping destinations

original source Forbes.com

Dubai: The city of Dubai has made it to the list of top shopping destinations around the world, with many top retailers who have opened shop in the emirate.

Dubai's number 4 ranking on the list—boasting 45.68 per cent of top retailers—is an indication that demand in the Middle East just keeps growing.

For example, by 2010, American department store Bloomingdales, part of Macy's will have opened up shop in the city. Along with a consumer demand for more brand names, the numerous malls and shopping centres being built within Dubai make it easier for retailers to acquire prime real estate at a reasonable price.

In the UK, the High Street—or the main road in a neighbourhood—is shopping mecca.

In London, there are more High Streets than one can count, so it's no surprise it hosts more than half of the world's top retailers.

Retailers like the Gap, Abercrombie & Fitch, Uniqlo and Urban Outfitters have often used London as a launch pad for foreign expansion.

In Paris, the latest shopping hot spot is Palais Royal in the first arrondissement, which hosts boutiques such as Stella McCartney, Rick Owens and Corto Moteldo.

Other popular shopping destinations include New York and Tokyo.

While New York (hosting 46.91 per cent of the world's top retailers) and Tokyo (38.68 per cent) both offer tourists a bigger selection of stores than any other city.

Other emerging markets are also going strong, including Russia's Moscow, and Beijing and Hong Kong in China—where 50 new millionaires emerge every day.