THE SOCIO-ECONOMIC CONTRIBUTION OF EUROPEAN SHOPPING CENTRES
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The upturn is broad-based with private consumption expected to remain positive and strengthen in 2015<br />
and into 2016 across most European countries (see Figure 2). This growth in retail spending will act as an<br />
important stimulus for the European economy as the recovery in domestic demand creates further interregional<br />
trade and employment growth. Shopping centre environments are crucial to facilitating and enticing<br />
such growth, generating efficiencies and improving productivity by providing retailers with the appropriate<br />
infrastructure and a marketplace to engage with their consumers.<br />
Figure 2: Real Private Consumption Growth: 2014 to 2016(f) (European OECD Member-States)<br />
Austria<br />
0.5<br />
0.5<br />
1.0<br />
Belgium<br />
0.7<br />
1.1<br />
1.5<br />
Czech Republic<br />
Denmark<br />
0.6<br />
1.5<br />
1.9<br />
2.3<br />
2.0<br />
2.5<br />
Estonia<br />
3.7<br />
3.8<br />
4.2<br />
Finland<br />
France<br />
Germany<br />
Greece<br />
Hungary<br />
Ireland<br />
-0.4<br />
0.2<br />
1.1<br />
0.4<br />
0.3<br />
0.7<br />
1.0<br />
1.5<br />
1.0<br />
1.3<br />
1.7<br />
1.1<br />
1.7<br />
1.9<br />
2.1<br />
2.3<br />
1.8<br />
1.8<br />
2014<br />
2015 (f)<br />
2016 (f)<br />
Italy<br />
Luxembourg<br />
0.2<br />
0.30.5<br />
1.8<br />
2.4<br />
2.8<br />
Netherlands<br />
Norway<br />
Poland<br />
Portugal<br />
Slovakia<br />
Slovenia<br />
Spain<br />
Sweden<br />
-0.1<br />
0.4<br />
0.4<br />
0.2<br />
0.0<br />
0.5<br />
0.8<br />
1.0<br />
1.5<br />
2.1<br />
2.3<br />
2.7<br />
2.4<br />
2.5<br />
3.0<br />
3.0<br />
2.9<br />
2.1<br />
1.9<br />
1.7<br />
2.4<br />
2.6<br />
3.0<br />
3.8<br />
Switzerland<br />
United Kingdom<br />
0.7<br />
1.0<br />
1.9<br />
2.1<br />
2.4<br />
2.1<br />
-1 0 1 2 3 4 5<br />
Sources: OECD (April 2015); Forecast by ICSC Research<br />
7
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