Paris and Dubai two of world’s most popular shopping destinations today. However, until recently, France’s capital was always a few steps ahead of the emirate on global retail lists. Well, not anymore, because tables have finally turned! Dubai managed to overtake Paris in ranking focused on the best shopping cities in the world.
Dubai is the 5th best spot for shopaholics, according to the latest World’s Best Shopping Cities list. According to the research, the emirate is “a shopping paradise for fashionistas,” because of the city’s love for luxury and retail. While that is no news, the list also states that Dubai has become a more popular shopping destination than Paris.
Dubai still lacks the countless vintage stores and budget shopping opportunities offered by the French capital However, the emirate’s extravagance and opulence have enabled it to finally overtake Paris on the list of retail global hubs.
In 2014, Paris was ranked 5th and Dubai 9th in Radiff Business’s World’s 12 Best Cities for Shopping. Similar was the situation in CBRE’s 2014 report on global retail. In it, Paris was announced as the hottest global market for retailer and France – top country for new entrants. Dubai, on the other hand, was listed at the 19th spot, although it was 2nd on CBRE’s city retailer representation ranking.
Top Luxury Shopping Destination
But not only Dubai scores high when it comes to shopping! Along with emirate’s triumph over Paris, the UAE was also announced as Middle East’s second biggest high-net-worth individuals (HNWI) in a New World Wealth report. The country is topped only by Turkey.
The recent decline in oil prices had a negative effect on HNWIs living in the United Arab Emirates. Despite that, however, luxury shopping rates in the country continue not only to remain strong, but to increase as well.
The same research has also found that luxury fashion brands enjoyed particular attention in the United Arab Emirates. The first spot is taken by Cartier, followed by Chanel and Gucci at the second and third spots, respectively. Further down the list are Hermes (4), Ralph Lauren (5) and Christian Louboutin (6).