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India is the most sought-after emerging retail market in the world, with 27 percent of retailers either opening stores or actively planning to do so in that country, according to Global Emerging Markets Survey, a new report from CB Richard Ellis.

At 24 percent, Ukraine was the second-most sought-after emerging retail market, while Russia, Malaysia and Turkey rounded out the top five. According to the report, China and Thailand also present compelling opportunities, as 19 out of 20 retailers who first consider these markets later choose to open stores.

The report, which surveyed some 300 retailers worldwide, representing a global portfolio of 25,000 stores, also found that 40 percent of retailers expect emerging markets to provide their main source of growth during the next five years, while only 25 percent expect to see growth concentrated in their home market.

"Rising interest and growing expansion into emerging markets globally is being fueled by rapid growth in consumer spending and the 'emerging middle class' in many of these countries," says Anthony Buono, executive managing director of CBRE Retail Services. "We believe India will maintain its position as a popular new location for retail expansion as further trade restrictions are lifted. And, in the same way that Ukraine is now benefiting from retailer interest in Russia, retailers will again be looking to expand to adjacent markets proximate to other emerging destinations."

Retailers were also asked to share their main operational considerations when looking to enter an emerging market. At the top of the list was the quality and range of real estate opportunities. Eight out of 10 retailers will reconsider the decision to enter a market if their preferred real estate format is not available, and nearly six out of 10 retailers base their entry into an emerging market on the availability of suitable property, compared to 46 percent in developed markets.

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