I live in a tourist town in Norway. There are some nice shops. A nice cafe run by some Italians, a coffee place which started out as a church initiative (then got kicked out from their original locale when it turned out they were much, much better at selling good coffee than evangelizing) which has awesome concerts and an art gallery, to name two of my favorites.
There are also tourist tat shops. Dozens of them. One prominent one at the entrance to the main shop with a blinged-out AI generated moose. Oh, and casinos - I mean bingo places. They just extract money. The owners don't live here, so they don't care. They're parasitic, they might well go broke without the few positive externality shops around them - but they make more money than those decent shops. And landlords set the rent accordingly.
Of course there's one place where they do central planning, where they realize that externalities are crucial in retail and charge rent accordingly, and where there's not a single tourist tat shop. That place is the mall.