Puerto Rico Retail Research Report, H1 2020

After a fiscal crisis, an extended recession, hurricanes, earthquakes, and a global pandemic, Puerto Rico has weathered crisis after crisis over the past several years. The Island’s resilience during these challenging times has been supported by its people’s strength of character, a healthy business environment founded upon Puerto Rico’s status as a part of the United States, a highly competitive tax code, and its entrepreneurial spirit.

The reset created by the pandemic has also prompted residents of high cost and high tax domiciles to reconsider their current living situations. The advent of remote work has, like retail closures, accelerated an ongoing process and the speed of technology adoption. Places like Puerto Rico with natural beauty, familiar amenities, and strong tax incentives should only become more attractive places to live and work as real estate in traditionally prime markets becomes less essential.

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