Taipei was ranked as the second-top market for international retailers in the Asia-Pacific region last year, according to a report released Friday by commercial real estate services and investment firm CBRE.
The city attracted 52 new international brands, said the report, which examined 47 nations and 123 cities that saw international retailers setting up shop there for the first time.
Almost half of the new entrants were coffee retailers and restaurants, said Ping Lee, an associate director at CBRE Taiwan’s research department, adding that nearly 90 percent of the entrants were from Japan and South Korea.
Dining out is not only about eating, but is also a form of social gathering for Taiwanese, which has helped spur newcomers in the city’s catering business, Lee said.
The city’s department stores have also been carrying more food and beverage stalls as a means of attracting customers and boosting revenue, she said.
Lee said she expects the catering business to remain in demand for the retail store lease market this year.
Worldwide, Taipei ranked third in the report, behind only Hong Kong and Dubai, which last year saw 86 and 59 new international entrants respectively.
They were followed by London, Tokyo, Doha, Toronto, Singapore, Prague and Shenzhen.