Latinos Drive Economy of Arizona State

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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.

Picture Credit loop_oh

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