What: According to a study by Cushman & Wakefield, New York's Fifth Avenue remains the most expensive shopping street in the world.

Why it is important: The ranking of the world's most expensive shopping streets is important as it provides insights into global retail trends, economic competitiveness, and prime retail locations.

The top 10 ranking of the most expensive shopping streets has remained unchanged this year. Milan's Via Monte Napoleone has moved up to second place due to a significant 20% increase in retail rents. Hong Kong's Tsim Sha Tsui Street has only seen a 4% increase in rental value since 2022. New Bond Street in London holds the fourth position, and the Champs-Elysées in Paris ranks fifth with rents remaining the same as in 2022.

France holds half of the top 10 positions in Europe, primarily due to the Parisian luxury arteries, which have seen increased activity.

Fifth Avenue in New York remains the most expensive shopping street in the world