With an estimated 52 million Latinos currently living in the United States, Hispanic Americans are unequivocally the largest minority population in the country.
In honor of National Hispanic Heritage Month, we took a look at how Latinos impact the U.S. economy as consumers, taxpayers, laborers and business leaders.
With the Hispanic-American population projected to grow to 132.8 million — 30 percent of the total U.S. population — by 2050, Latinos will most certainly continue to contribute to and substantially impact the overall growth and output of the U.S. economy.
Latinos as a Growing Consumer Base
In recent years, more companies and advertisers have launched marketing initiatives designed to specifically attract additional Latino consumers, and with good reason. The purchasing power of Latinos is expected to grow 48.1 percent by 2016, reaching $1.6 trillion in consumer purchases, according to a 2011 study by market analyst IBISWorld.
Read more: National Hispanic Heritage Month: Latinos and the Economy
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