China remains one of the most dynamic retail markets in the world, a study by global consultancy A.T.Kearney showed.

The A.T.Kearney Global Retail Development Index ranks the top 30 developing countries for retail investment, based on relevant macroeconomic and retail specific variables, the study said. International retailers still rely on developing markets to fuel growth, even as they become more strategic in their expansion, A.T. Kearney said in the report Global Retail Expansion at a Crossroads.

The consultancy firm has published the index for 15 years. Here are this year’s top 10 retail markets.

10. Azerbaijan

Top 10 most attractive retail markets
An oil refinery is seen in Azerbaijan’s capital Baku, June 11, 2015. [Photo/VCG]

9. Peru

Top 10 most attractive retail markets
Two tourists sit side by side at Machu Picchu, a 15th century Inca citadel in Peru. [Photo/VCG]

8. Saudi Arabia

Top 10 most attractive retail markets
Saudis ride camels during the annual Camel Festival in Rumah, Mar 29, 2017. [Photo/VCG]

7. United Arab Emirates