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Hispanic Purchasing Power
U.S. Hispanic purchasing power has
surged to nearly $700 billion and is projected to reach as much as $1 trillion
by 2010
The rate of growth is nearly three times the overall
national rate over the past decade and will propel the
aggregate disposable income of the nation's largest
minority group to $1 Trillion by 2010, according to
an analysis of data recently released
by the U.S. Bureau of Economic Analysis.
Several key insights
follow:
- U.S. Hispanic purchasing power posted a
compound annual growth rate of 7.7%.
- Higher paying managerial and professional
jobs are the fastest-growing occupational
categories for Hispanics.
- California and Texas account for more than
34 percent of all Hispanic purchasing power and
nearly half of the entire U.S. Hispanic
population.
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