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9. United Arab Emirates

Ranking last year: 7
Population: 5,148,664
GDP per capita: $9,200 (2010 est.)

Retailers have been flocking to the UAE for several years now, and the market is getting saturated.

It’s no surprise why retailers liked this market. The country receives large numbers of tourists, and consumer spending grew 9 percent last year. What’s more, retailers often see the UAE as an attractive entry point to retail expansion in the Middle East.

However, A.T. Kearney said consumers in the region are still a bit cautious in the wake of the recession, and have been saving more. They also feel their purchase power is on the decline as prices are rising faster than wages.

(Pictured: Women shopping for shoes in Dubai.)

Photo: Celia Peterson | ArabianEye | Getty Images