Page 45 - Latino Boom II

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P o r t r a i t o f L a t i n o U . S . A .
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transportation (both automotive and airlines), entertainment (sports
and movies), and media (TV, advertising, and magazines). These are all
very important sectors of the American economy and yet not all of them
are actively marketing to Hispanics.
“For more than two decades, Hispanic buying power growth has
outstripped that of the general population. Despite difficulties during
and following the recession of 2009, buying power of Hispanics contin-
ues to escalate steeply,” writes Brian Bueno, author of the report “The
Growing Hispanic Population Means Big Business for These 7 Sectors.”
“Over the next five years, the nation’s buying power is projected to grow
27.5 percent to $14.7 trillion, while that of the Hispanic population is
forecast to grow 48.1 percent to $1.6 trillion.”
This Latino boom we are experiencing is very similar to the baby
boom of the fifties, with a large and growing number of Americans
entering the household formation stage. The Latino boom means that
a majority of Latinos are transitioning from single, to married, to
parents—three life stages where purchasing power is at its height. In
fact, according to the founders of the Latinum Network, a think-tank-
like network for companies that work in the Hispanic/multicultural
space, “over the past decade, U.S. Hispanic spending has increased
as much as $100 billion every few years.”
11
E DUCA T I ON
The headline of June 13, 2012 in
U.S. News and World Report
is a
bit misleading: G
raduation
R
ate
I
ncrease
P
ropelled
by
L
atino
A
chievement
. The fact is that while high school graduation rates for
Latino students have increased steadily over the past couple of years—
increasing a stunning 10 percent from 2008 to 2010 alone—only 73 per-
cent of Latino students received a high school diploma in the graduating
class of 2010, the latest for which statistics are available, compared to 79
percent of white students and 81 percent of Asian American students.
The fact is that bridging the educational gap of Latino students is now
seen as a demographic imperative for this country.