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Article: Buying power of Hispanics to surpass that of African Americans by 2005.
- Article from:
- Marketing to the Emerging Majorities
- Article date:
- September 1, 2002
CopyrightCOPYRIGHT 2002 EPM Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Rapid population growth, better employment opportunities, and an increase in entrepreneurial ventures are all driving forces behind the continuing growth in buying power among the country's emerging majorities, according to the University of Georgia's Selig Center for Economic Growth.
The report predicts that Hispanic buying power will exceed African American buying power for the first time in 2005 ($764 billion for Hispanics, $760 billion for Blacks).
In 2007, the combined buying power of African Americans, Asians, American Indians, and Hispanics will be $2.3 trillion, the report, says. That will be a 47% increase over $1.6 trillion in 2002 and a 239% ...