Hispanic buying power to reach $348 billion, study says ATLANTA (AP)

ATLANTA (AP) — The buying power of U.S. Hispanic consumers is growing at three times the rate of inflation and is slowly gaining on black...

ATLANTA (AP) — The buying power of U.S. Hispanic consumers is growing at three times the rate of inflation and is slowly gaining on black purchasing power, according to a University of Georgia study released Wednesday.

Hispanic purchasing power — the total personal income available after taxes for spending on goods and services — will reach $348 billion this year, up from $325 billion last year, according to figures compiled by the school's Selig Center for Economic Growth.

It is up 65 percent since 1990, when it totaled $211 billion. During the same period, inflation was 23 percent, overall U.S. buying power grew 41 percent and black buying power grew 54 percent to $469 billion this year.

"The most surprising thing is the phenomenal rate of growth,'' center Director Jeff Humphreys said Wednesday. "It's growing at three times the rate of inflation.''

Americans claiming Hispanic ancestry make up about 11 percent of the population — 28.6 million people — and have 6.1 percent of the $5.7 trillion in total buying power, the study said. That is up from 5.2 percent in 1990.

"The black market is still much larger, but Hispanic clout is increasing. We have really two markets that are similar and growing much more rapidly than the overall market,'' said Humphreys, who published a study of black buying power in May.

Jose Nino, president of the U.S. Hispanic Chamber of Commerce in Washington, said the study "shows the Hispanic market is here and unless corporate America begins to actively cater to the market ... they're going to miss the market.''

Hispanic buying power is concentrated in just a few states, with more than two-thirds of it in California ($112 billion), Texas ($56 billion), New York ($35 billion) and Florida ($33 billion), the study found.

The states with the fastest growth in Hispanic buying power are Nevada, Tennessee, Iowa, Georgia, Utah, Oregon, Nebraska, Arkansas, Montana and Idaho.

COMMENTS

Name

Anna univeristy transcripts,1,anna university,2,business,24,cyclone,1,education,2,health,23,NEWS,35,phethai,1,sci-tech,10,sports,25,technology,7,
ltr
item
Times Now India - Latest News Up to date - All India news updates portal - Top headlines: Hispanic buying power to reach $348 billion, study says ATLANTA (AP)
Hispanic buying power to reach $348 billion, study says ATLANTA (AP)
https://2.bp.blogspot.com/-eUJbs5I8zm4/W-83RGhbP1I/AAAAAAAAAas/pgg-2sjyLKUfFTZqbY-RtcWskHm7IhbWwCLcBGAs/s1600/secure-your-assets-and-facilities1.jpg
https://2.bp.blogspot.com/-eUJbs5I8zm4/W-83RGhbP1I/AAAAAAAAAas/pgg-2sjyLKUfFTZqbY-RtcWskHm7IhbWwCLcBGAs/s72-c/secure-your-assets-and-facilities1.jpg
Times Now India - Latest News Up to date - All India news updates portal - Top headlines
https://www.timesnowindia.com/2018/11/hispanic-buying-power-to-reach-348.html
https://www.timesnowindia.com/
https://www.timesnowindia.com/
https://www.timesnowindia.com/2018/11/hispanic-buying-power-to-reach-348.html
true
8987838410415587929
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy