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HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Bulgaria ranks 42nd in the latest edition of the How Active are Retailers Globally? survey of global property adviser CBRE.
The survey examines the most popular destinations for global retailers in 2015.
Bulgaria ranks 42nd out of 60, sharing a place with Qatar, Kuwait, and Estonia.
Only 4% of the retailers surveyed in How Active are Retailers Globally said that they were planning an expansion in Bulgaria.
Bulgaria’s score has improved slightly from 2014, when the country ranked 46th, with 3% of the retailers expressing an interest in expansion in the country, according to reports of investor.bg.
Germany retained its number one position for a second year in a row, with 40% of retailers planning to open a store there in 2015.
Germany was closely followed by the UK with 33% and France with 31% of retailers.
Global retailers continued to be attracted to Germany largely due to the opportunity to target more than 30 large cities with high purchasing power, according to CBRE.
Despite the huge interest in the German market retail rents in most of the markets remained stable or saw a slight increase.
47% of retailers surveyed in How Active are Retailers Globally indicated that unclear economic prospects and cost escalation, largely due to increases in rental costs and lack of quality retail space, were the biggest concerns for 2015.
The physical store remained the destination of choice for consumers as retailers continued to open stores in diverse locations with 21% of retailers planning to open between one to five stores in the Europe, Middle East and Africa (EMEA) region by the end of the year.
Large scale expansion plans with retailers looking to open more than 40 stores scaled back to 9% in 2015.
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