U.S. Hispanic purchasing power $870 billion

The US Hispanic consumer market  is actually as big or bigger than the GDP [gross domestic product] of Mexico or Canada, Michael Barrera, CEO of the U.S. Hispanic Chamber of Commerce, told CNN. It is the second largest economy in North America.

Here's some data:

45.5 million
The estimated Hispanic population of the United States as of July 1, 2007, making people of Hispanic origin the nation’s largest ethnic or race minority. Hispanics constituted 15 percent of the nation’s total population. In addition, there are approximately 3.9 million residents of Puerto Rico.

About 1
. . . of every two people added to the nation’s population between July 1, 2006, and July 1, 2007, was Hispanic. There were 1.4 million Hispanics added to the population during the period.

1.4 million
The number of grandparents who are in the labor force and also responsible for most of the basic needs of their grandchildren.

3.3%
Percentage increase in the Hispanic population between July 1, 2006, and July 1, 2007, making Hispanics the fastest-growing minority group.

102.6 million
The projected Hispanic population of the United States on July 1, 2050. According to this projection, Hispanics will constitute 24 percent of the nation’s population by that date.

2nd
Ranking of the size of the U.S. Hispanic population worldwide, as of 2007. Only Mexico (108.7 million) had a larger Hispanic population than did the United States (45.5 million). (Spain had a population of 40.4 million.)

64%
The percentage of Hispanic-origin people in the United States who are of Mexican background. Another 9 percent are of Puerto Rican background, with 3.4 percent Cuban, 3.1 percent Salvadoran and 2.8 percent Dominican. The remainder are of some other Central American, South American or other Hispanic or Latino origin.

27.6 years
Median age of the Hispanic population in 2007. This compares with 36.6 years for the population as a whole.


You can find more information at w.w.w.census.gov

Patricia Daumas is specialized in writing in Spanish for the US-hispanic markets.