Upscale Latinos Inject $500 Billion To The U.S. Economy Annually

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Photo: Florida State Hispanic Chamber of Commerce

 
 
U.S. Hispanics who earn $50,000 to $100,000—a.k.a., “upscale Latinos”—spend $500 billion every year, according a study released Wednesday by the Nielsen company and AHAA: The Voice of Hispanic Marketing, a national trade marketing organization that focuses on Latinos.
The report, titled “Upscale Latinos 2.0: A Renewed Outlook for High-End Marketers,” follows another publication last July by the same two groups that identified upscale Latinos as the most influential population group in marketing terms since the Baby Boomers.
According to the new study, the group tends to be bicultural, to skew younger, have larger families and are more likely to be dual income earners than non-Hispanics in the same income bracket.
They are 150 percent more likely to have purchased a computer, laptop or tablet in the last two months, and more than twice as likely to have bought designer clothing or accessories than their non-Hispanic peers.
“One of the most compelling attributes of the upscale Latino is their consistent level of optimism about safety, well-being and wealth creation,” Monica Gil, a senior vice president at Nielsen, specializing in multiculturalism and growth, said in a statement. “This optimism, confidence and increased spending make this segment an imperative…
To read full story: http://latino.foxnews.com/latino/money/2014/05/01/upscale-and-confident-moneyed-latinos-most-influential-segment-since-baby/

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