Thursday July 29, 2010

Hispanics To Drive Consumer Spending

New York — Hispanics will become a key driver of consumer spending during the next 10 years and beyond, and are expected to fill the hole left by the diminishing disposable incomes of retiring Baby Boomers, according to an Advertising Age report.

It is expected that the Hispanic population will be reported at some 50 million, or one in six U.S. residents, with the release of the 2010 census.

In 2000, the U.S. Census Bureau reported a Hispanic population of 35.3 million. It projects significant increases every 10 years, eventually reaching 102.6 million in 2050.