The Latinx population’s purchasing power is expected to top $1.9 trillion by 2023, which is higher than the gross domestic product of countries such as Australia, Spain and Mexico, according to Nielsen.

The growth comes at a time when Latinx consumers, who are part of the nation’s youngest minority group with a median age of 28 — compared to 38 in the general population —quickly approach their peak earning years — accounting for 75 percent of all U.S. labor force growth over the last 6 years.

About 60 million Hispanics are living in the U.S. and Census projects that the nation’s Latinx population will increase to 109 million in the next 40 years. READ MORE AT NBC NEWS

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