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Posted on: March 7th, 2007
Filed Under: [ Marketing ] [ Tomás' Picks ]
Tags: population
Newsletter readers - Don't forget HispanicTIPS - Gracias, Tomás
“If they’re not on your marketing radar, chances are you’re already one step behind your competition. The U.S. Hispanic population is growing exponentially, and so is their purchasing power.
According to HispanTelligence, Hispanic spending power has skyrocketed to $700 billion and is projected to reach as much as $1 trillion by 2010. The latest U.S. Census Bureau figures estimate the total U.S. Hispanic population at 42.7 million, making them the largest minority group in the country. They’re also the fastest-growing group: From 2004 to 2005, the Hispanic population grew by 3.3 percent. By 2050, Hispanics are expected to reach 102.6 million and will constitute 24 percent of the nations total population.”
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