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news archives
08/12/2007
Vital Statistics about the Hispanic Population
• Hispanics remain the nation's largest minority group, an estimated 44.3 million, or 14.8 percent of the population.
• A report released this month by the U.S. Census Bureau shows there were 194,706 people of Hispanic descent living in Tennessee in 2006. That's a 590 percent increase over the 33,000 Hispanics counted during the 1990 census, but still only about 3 percent of the state's overall population.
• Hispanic businesses grew 31 percent between 1997 and 2002 –three times the national average for all businesses. The nearly 1.6 million Hispanic-owned businesses generated $222 billion in revenue, 19% up from 1997.
• Latino Purchasing Power is Explosive!
Latino purchasing power continues its explosive growth. It has shot up 277 percent since 1990 and is almost 800 billion dollars today. And recent research shows there is no end in sight. We can expect above average growth for Hispanics relative to non-Hispanics over the next
five years. By then Hispanic purchasing power is expected to reaching $1.2 trillion---giving Latinos the most disposable income of any minority.
Now comes even more good news. Researchers are predicting Latinos will soon have the most disposable income of any minority. That means more consumers with even more purchasing power---a marketer's dream!
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