Hispanic advertising expenditures rebounded sharply this year after tapering off in 2001. Ad spending in the Hispanic market is expected to grow about 11 percent, compared to just 4 percent last year.
Hispanic ad expenditures are expected to reach $2.46 billion this year, up from $2.22 billion in 2001. Procter & Gamble is again the market’s top spender. The consumer products giant is projected to spend almost $70 million on Hispanic advertising.
Purchasing Power: the correct number is $540 billion Despite an almost nonexistent economic recovery and the shift in federal spending to defense programs, Hispanic purchasing power is seeing strong growth this year. HispanTelligence®, the research arm of Hispanic Business Inc., estimates that U.S. Hispanic purchasing power will grow 8.1 percent to $540 billion in 2002. This robust increase is surprising, given this year’s relatively high unemployment rates. The strong growth is likely attributable to continued increases in the U.S. Hispanic population and mean Hispanic household income. The latter has grown 4.7 percent in the past year alone. Other contributing factors may include the tax relief package passed by Congress last year, rising educational levels, and the trend toward increasing entrepreneurship among Hispanics.