Orlando Retail Market Report
Foundation of Local Retail Spending Recovers;
Growing Populace Provides Additional Boost
Demand drivers strengthen. Recent job growth and positive net migration are brightening the metro's retail outlook. Adding over 84,000 jobs during the 12-month period ending in June, Orlando's employee pool grew by 6.7 percent. Many of these positions were filled by new residents, as the metro's population expanded by more than 45,000 people during the yearlong span. Concurrently, local tourism has recovered, with hotel revenues reaching new heights during the 2021-2022 fiscal year. With larger local and out-of-town consumer bases in place, retailers are likely to view Orlando as a prime locale for future expansion, preserving demand for available single- and multi-tenant spaces.