Puerto Rico Retail Research Report, H2 2020

While there was a brief 56% decline in retail sales in April due to the Coronavirus pandemic on the Island, retail sales are estimated to grow nearly 2 percent in 2020 after being down just 3.3% year over year in October. Retail property prices are also on the rise as a result of increased tourism and relocation to the Island, specifically Class A retail in the San Juan Metro Area. The Island’s economic outlook remains relatively strong with life sciences manufacturing reshoring efforts underway. There have been no significant changes to incentives, which remain focused on bringing jobs and capital to the Island.

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