Hispanics and Food Consumption in the United States

Hispanics and Food Consumption in the United States

Introduction

If they were a separate country, U.S. Hispanics occupy the 15th place among the world's largest economies: the purchasing power of this group exceeded one billion dollars more than the gross domestic product of Turkey, Australia and Argentina. In fact, the community bought almost as many goods and services and all China, which in 2011 imported a little over a trillion U.S. dollars and the purchasing power of the largest ethnic minority in U.S. territory promises to expand further, reaching, according to forecasts, U.S. $ 1.5 billion in 3 years.

Growth in Purchasing Power of Hispanics

The growth of purchasing power among Latinos is three times higher than other groups. Thus, while the Hispanic population represents 16% of the national total, is responsible for 50% of the increase in consumption in recent years. As an example, a study published in these days by the Hispanic Chamber of Commerce of Arizona, where between 2000 and 2010 the purchasing power has ballooned 127%. "This variable is at its highest point in history. Latinos account for nearly U.S. $ 40,000 million that moves in the Arizona economy and the trend is sustained. It is expected that by 2015 to grow 10,000 million more," he explained to BBC World Loui Olivas, a professor emeritus at Arizona State University and head of the team behind the report "DATA: Focus on the Hispanic market." Experts say Arizona is a good barometer of the economic outlook for U.S. Latinos: Located on the border, this state has not only been the access of millions of immigrants in recent decades but has seen the enactment of tougher laws to the undocumented (Weber, 2009).

Hispanic Business Owners

The recession that began in 2007 and sustained crisis here has joined the economic impact of the 1070 Act, partially in force since 2010, which has caused an exodus of illegal immigrants to other regions, with significant consequences for employment and tax revenues. With the figures at hand, analysts are forecasting almost unique: beyond political vicissitudes, companies that want to catch up and ensure their survival should be in their plans the Hispanic customer satisfaction. "The studies clearly indicated that the fiscal health and expansion are increasingly dependent on the economic vitality of the Latino community," said Olivas, a recipe that not only applies to Arizona but also to other major Hispanic markets ...