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Hispanic American News About Hispanic Americans Hispanic Americans are the largest minority market in the United States, comprising 15 percent of the population. In 2007 Hispanic Americans buying power reached $862 billion. If Hispanic Americans were a country they would be the 16th largest economy in the world based on gross domestic product (GDP). Hispanic Americans like most American families spend 80% of their disposable income within a 20 mile radius of home. 70% of Hispanic Americans live in just five states: California, Texas, New York, Florida and Illinois. In 2002, more than 1.6 million Hispanic owned businesses generated nearly $300 billion in revenues. The Related Group with revenues in excess of $1.4 billion is the largest hispanic owned business in the United States. Over 1.2 million Hispanics are enrolled in colleges and universities. In 2004 84,333 Hispanics earn a Bachelors Degree while 24,017 earned a Masters or Doctorate degree. A 2006 study conducted by J.D. Power and Associates indicates 31% of Hispanic households earn over $50,000 annually; 13% earn over $75,000 annually; and 6% earn over $100,000 annually. In 2007 the 10 largest Hispanic markets accounted for 80% of buying power. California ($228 billion) Texas ($154 billion) Florida($91 billion) New York ($66 billion) Illinois ($38 billion) New Jersey ($33 billion) Arizona ($28 billion) Colorado ($20 billion) New Mexico ($17 billion) Georgia ($14 billion) The National Society of Hispanic MBAs | ||||||||||
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