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Geoscape Report: Aggregate Hispanic Household Income this Year is Approaching One Trillion Dollars
Manuela Walfenzao| 21 de agosto de 2017
19% de la población estadounidense se identifica como hispana
Although in 2017 Hispanics have median household income that’s about 20% lower than the overall median average, their sheer size means that they’re approaching US$1 trillion in aggregate household income this year, according to Marketing Chart’s new report from Geoscape. This translates to purchasing power, according to the study. The report indicates that the median household income for Hispanics in 2017 is estimated to be close to US$45.000, below the US$57.000 average. However, Hispanic household consumer expenditures will exceed US$815 billion. Previous studies have highlighted that Hispanics spend more on a daily basis than other cultural groups and the Geoscape report shows that as a percentage of total household income, Hispanics will spend more than Asians and Blacks this year.In terms of total annual expenditures, Hispanics are expected to spend the most this year on shelter and insurance, food and beverages, transportation and personal insurance.19% of the US population identifies as Hispanic, and two-thirds of the Hispanic population is from Mexico.According to data from the US Census Bureau, more than one-quarter of Americans under the age of 14 are Hispanic. According to the Geoscape report, half of the pre-schoolers (ages 0-4) in the Los Angeles area will be Hispanic by 2022.
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