Latinos Drive Economy of Arizona State
A new reports entitled “Datos: Focus on Arizona’s Hispanic Market 2010” funded by Arizona’s Hispanic Chamber of Commerce shows that Spanish-speaking constituents that comprise 30 percent of the population figure significantly in the burgeoning economy of the state. The study says Latinos currently contribute about $31 billion to the state economy and the figure is expected to increase to $47 billion in two years time.
The significant role of Latinos in Arizona is apparent in the high percentage of people in some parts of the state: 62% of residents in Maricopa County and 42% in Phoenix are of Spanish-descent. Moreover, Latinos also spend more than average Americans on food – with a majority of Latinos going to the grocery store four times a week on average and most opting to buy fresh produce and cook rather than dine in restaurants. Latinas also spend more on cosmetics and hygiene products than other races.
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