Orlando Retail Market Report
Population Gains and Rebounding Tourism Provide Optimism for Orlando’s Retail Sector
Growth trends support rapid improvement in retail demand. Shutdowns across the nation due to the health crisis limited air travel and placed restrictions on capacity at the region’s many tourism venues during 2020, heavily impacting the retail sector. As vaccinations become widespread and more people are able to travel safely, pent-up demand should bring tourists back to Orlando’s many destinations. In addition, the metro’s favorable weather, quality of life and employment opportunities are luring new residents. Following the addition of roughly 36,100 people last year, more than 40,500 new residents are forecast in 2021. A population gain three times the national rate is expected to bolster retail sales in the metro by more than 6 percent this year.