The UK has the highest proportion of foreign retailers on its high streets, according to a new report.

As retailers look increasingly abroad for expansion opportunities, emerging markets such as China and Russia are already home to more foreign names than the US, say researchers for the real estate agency CB Richard Ellis.

Out of 250 of the world's biggest retailers, 55 per cent are present in the UK. “It's certainly an incredibly competitive market, which gives us the confidence that if we can compete there we can compete elsewhere,” said Carl Leaver, head of the international division at Marks and Spencer, which like many large retailers is increasingly seeking growth beyond its home market.

The rankings are dominated by European countries but also include the UAE, China and Russia in eighth, ninth and 10th place respectively. The US is placed 11th with 39 per cent of international retailers present.

“You have got to have a scale of capital expenditure if you're going to take [the US market] on,” said Peter Gold, head of Europe, Middle East and Africa at CBRE. “And you have a whole host of US retailers who are very strong and dominant in the marketplace, and to rival them is going to be a challenge.”

The wealth of US opportunities also partly explains the reluctance of some US brands to expand quickly beyond their own borders. American Eagle and J Crew are two such companies with limited recognition outside North America.

Those international retailers who do want to expand often choose to start with emerging markets. Here, India and Brazil are currently overshadowed by China and Russia.

Under Indian regulation, single-brand retailers are limited to 51 per cent foreign direct investment, so must link with Indian partners. Foreign multi-brand retailers are barred from India.