The Latino population is not only growing everywhere in America, but they are also working, making money, and spending it… also everywhere in America.
Hispanic consumers in the United States control a total of $1.5 trillion in buying power, up 212% this decade, according to the Selig Center for Economic Growth at the University of Georgia. Any marketer that is looking to grow their brand, are convinced that these figures alone should lead them to take a hard look at the Hispanic market to drive growth today. Right now, Hispanics account for one out of every six Americans and their aggregate buying power.
Many reputable news and media organizations, believe Latinos may be the key to future US economic growth. For instance, notice the facts curated by CNBC:
- GDP among U.S. Latinos increased to $2.3 trillion in 2017, up from $1.7 trillion in 2010.
- If the U.S. Latino population were a country, GDP growth rate of the Latino market would be the third-highest growth rate among all global economies.
- Relative to the overall U.S. market, Latinos have a high labor-force participation, faster population growth and increasing consumer spending.
- Between 2010 and 2017, product and services consumption among U.S. Latinos increased by 42% – that’s 72% faster vs. non-U.S. Latinos.
Interested to learn more how to reach this large population with money to spend..? Contact Hugo at (315) 415-8593 or email him to hacosta@cnylatino.com