Main Streets Across the World 2023

Proving the resilience of retail

In our 33rd edition of Main Streets Across the World, we explore the near-term outlook for the retail sector and headline rents and ranking changes for the best-in-class urban locations across the world. In addition, we will share key indicators and trends to watch, including the cost-of-living crunch and changes in e-commerce.

As the world continues to emerge from the impacts of the global pandemic, prime retail destinations have continued their rebound, recording mostly positive rental growth over the past year.

Globally, rents rose by an average of 4.8% over the past 12 months, an increase over the 3.7% growth shown in the previous year.
Asia Pacific led the world in 2023 at 5.3%, which was a strong improvement on the 1.1% growth experienced the previous year.
Europe also accelerated from experiencing growth of 0.9% YOY in Q3 2022 to 4.2% YOY in Q3 2023, albeit this higher rate was driven by exceptional uplift in Türkiye (without which growth in Europe averaged 2.1% for the year).
U.S. slowed from 17.0% last year, which was driven by supportive fiscal policies, to a more sustainable 3.2%.

We hope you find the report informative. To further discuss your retail opportunities and challenges, don't hesitate to reach out to your local contacts via your country page below: