Hispanics Represent The Largest Minority Buying Group In The U.S.
The purchasing power of the Hispanic population within the United States continues to rise sharply. Just by sheer number alone, people who fall into the Hispanic demographic represent a powerful purchasing group.
Lets look at some statistics. Of the approximately 300 million people in the United States, the U.S. Census Bureau estimates that about 44.3 million can be classified within the Hispanic demographic. That represents about 15% of the total U.S. population. The City of Los Angeles (California) alone is estimated to have a Hispanic population of around 4.7 million.
And this population is on the rise. From the period July 2005 to July 2006, the Hispanic population within the U.S. grew 3.4%, making Hispanics the fastest-growing minority group in the country. The Census Bureau estimates that the Hispanic population in the U.S. could reach 102.6 million by 2050, which will constitute 24% of the total population.
So where do people who fall within the Hispanic demographic come from? The breakdown is as follows: 64% Mexican origin, 9% Puerto Rico, 3.5% Cuban, 3% El Salvador,...
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