The purchasing power of Hispanics is growing at a rate nearly three times as fast as that of the general population in Arizona and nationwide, said an Arizona State University business expert who has studied the market for 14 years.
Even though Hispanic spending is slowing because of the downturn in the economy, overall, it continues to grow because the number of Hispanics is rising and they are rapidly approaching a majority status in many parts of the country, said Loui Olivas, professor emeritus at ASU's W.P. Carey School of Business.
"Yes, the Hispanic population has been impacted by the recession, so their spending is down," he said. "However, the purchasing power of Latinos continues to grow."
Olivas is releasing the 14th annual "Datos 2009: Focus on Arizona's Hispanic Market" report at the Datos breakfast today. The event is presented by the Arizona Hispanic Chamber of Commerce and Salt River Project.
A third-generation native Phoenix resident, Olivas leads a group of graduate students who study the Hispanic market. READ FULL STORY
Comments