7.31.2007

A Trillion $ U.S. Latino Market!

According to a new study by the University of Georgia's Selig Center for Economic Growth, Multicultural Economy, African American buying power in the U.S. will rise 34 percent to top $1.1 trillion by 2012, up from $845 billion now.

However, the Latino market will be even bigger, growing from $860 billion now to $1.2 trillion in five years.

The top 10 states, as ranked by the rate of growth of Latino buying power over 1990-2006, are:

1.) Arkansas (1,174%)
2.) North Carolina (1,042%)
3.) Tennessee (833%)
4.) Georgia (832%)
5.) Nevada (748%)
6.) Alabama (679%)
7.) South Dakota (652%)
8.) Minnesota (633%)
9.) South Carolina (626%)
10.) North Dakota (623%)

Latinos, which comprised 14.7 percent of the country’s population in 2006, had disposable income of $798 billion. In 2006, the 10 states with the largest Latino markets, in order, are:

1.) California ($214.5 billion)
2.) Texas ($140.2 billion)
3.) Florida ($82.2 billion)
4.) New York ($63.3 billion)
5.) Illinois ($34.8 billion)
6.) New Jersey ($30.5 billion)
7.) Arizona ($26.4 billion)
8.) Colorado ($18.5 billion)
9.) New Mexico ($15.1 billion)
10.) Georgia ($12.4 billion)