Gliding toward slower growth

The purchasing power of Latinos has grown from $135 billion in 1984 to around $571 billion in 2004, according to David Hayes-Bautista, UCLA Professor of Medicine at the David Geffen School of Medicine.

The rising purchasing power of Latinos has businesses across the nation taking note. David Kostin, chief sector strategist for Goldman Sachs, identified three factors that have companies trying to tap into the Latino market: high population growth, high income growth, and changing spending patterns. The U.S. Census Bureau predicts that the Hispanic population, fueled by high fertility rates and immigration, will comprise 20 percent of the U.S. population by 2030, a rate of growth three times faster than the national average.

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