Mark Watkins, Jones Lang LaSalle's Head of Retail Agency said: "London's global scope continues to keep the UK in number one position by attracting a multitude of retailers that want to further their international recognition and marketability (especially US retailers who use the UK as a stepping stone to the rest of Europe) whilst taking advantage of the recently buoyant consumer market."

Since 2000, cross-border retail activity was up 46% on the previous three-year period. According to JLL retailers are shrugging off the worldwide economic uncertainty since 2001 because they face market saturation in home markets and therefore need to seek opportunities abroad.

According to the JLL survey only eight of the top 40 European retailers have not yet ventured beyond their home market, and fashion continues to be the most active sector for cross border activity. , accounting for almost half of all moves. The world's fashion markets have become more and more harmonised over the past few years and as competition at home intensifies, fashion retailers are looking to new destinations to grow market share.