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July 2022

According to Savills, New York, Paris and London are the top 3 cities where physical retail continues to drive great sales. Compared to other locations, these resilient destinations have shown the right characteristics to bounce back quickly this year. There is a mix of factors that helps these cities perform so well. One common factor is robust domestic tourism, especially for London and New York. A domestic tourist is a person who's away from its usual residence but still located in its home country for at least one night. It seems that the staycation trend started during the summer after the pandemic.

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