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The report by international food and grocery expert IGD forecasts Tesco to grow at an average of 11 percent between 2007 and 2012, compared with 7 percent growth for Carrefour.
IGD said that international expansion in markets such as
Jonathan Gunz, a senior business analyst at IGD, said emerging markets will not be immune to the global economic slowdown, but the pace of growth will continue to outstrip that of the developed world.
"We estimate that in grocery, retail markets in
Tesco revealed last week that its international business, particularly in
In the trading update, the company added that it remains on track to open several new stores in its international division this year, which will provide around eight million square feet of new selling space.
The IGD report also showed that Wal-Mart will remain the clear front-runner in the global retail industry, with annual turnover expected to rise by around $100 billion to $476.2 billion in 2012.