Research

Asia Pacific Retail Market Dynamics Q2 2024

Inbound tourism bolstering foot traffic in parts of the region

August 22, 2024

Highlights from the report include:
 

  • Demand in the region remains firm with foot traffic in many key retail hubs bolstered by healthy levels of inbound tourism, reinforcing the ongoing confidence in the retail sector. 

  • Fashion and F&B amongst a diverse range of retailers drive a pickup in quarterly net absorption figures as new outlets get launched in leading shopping centres and areas favoured by tourists. As a result, 14 markets were in positive rental growth territory regionally.

  • Regional vacancy edged lower for a second consecutive quarter as retailer’s expansionary demand remains resilient and supply volumes shrink compared to last quarter.

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