U.S. Hispanic Purchasing
Power Growth Rate Three Times The National Rate In The Last
9/15/04 - By Deborah Broide for HispanicBusiness.com
The U.S. Hispanic
purchasing power growth rate was three times the overall
national rate in the last decade. From 1994 to 2004, U.S.
Hispanic purchasing power posted a compound annual growth
rate of 7.7%-nearly three times the 2.8% total U.S. rate
of disposable income.
The Hispanic population is
out-performing the general population by nearly every
economic growth measurement.
This is predicted to continue according to "U.S. Hispanic
Purchasing Power: 1978-2010", the HispanTelligence(R) research
report released today. Hispanic purchasing power has surged to
nearly $700 billion and is projected to reach as much as $1
trillion by 2010, according to estimates by HispanTelligence(R),
based on analysis of U.S. Bureau of Economic Analysis figures.
"Rising education levels, rapid employment growth, and a
changing labor profile fuel the growth," explained Dr. Juan
Solana, HispanTelligence(R) Chief Economist.
Higher paying managerial and professional jobs are the
fastest-growing occupational categories for Hispanics, up from
11% in 1990 to 17% in 2003.
Additionally, "Hispanic employment has shown strong growth,
increasing 14% from 2000 to 2004, compared with an overall
U.S. growth rate of 2%," stated the authors of the study Tabin
Cosio and Juan Solana.
HispanTelligence(R) estimates current Hispanic purchasing
power is 8.5% of total U.S. purchasing power, but will reach
11% by 2010, when taking into account factors such as the
narrowing Hispanic vs. overall U.S. income gap and the
increase in the number of Hispanic households with
The HispanTelligence(R) "U.S. Hispanic Purchasing Power:
1978-2010" also provides:
-- State-by-state projections of Hispanic average household
income and purchasing power versus the national averages for
California, Texas, New York, Florida, Colorado, and Illinois.
Other states upon request.
-- 25-year purchasing power trend analysis.
-- Job distributions across function, industry and title. (We
do not provide this info in the Purchasing Power paper)
To purchase a copy of this or other HispanTelligence(R)
Hispanic Business(R) and HispanTelligence(R) are registered
trademarks of Hispanic Business Inc. © 2004 Hispanic Business
Inc. All rights reserved.
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