$9.4 billion Buying power of Hispanics growing in Austin

Buying power of Hispanics growing

$9.4 billion up for grabs annually in area

Austin Business Journal - by Sandra Zaragoza ABJ Staff

Print Email Reprints RSS Feeds LinkedIn Share Comments

In a city where one out of every three Austinites is now Hispanic, marketers are digging into their pockets a little deeper to connect with Hispanics.

The reason is clear: The Hispanic buying power in Austin has grown by 54 percent over the past five years to $9.4 billion, according to research presented at the recent Hispanic Marketing Symposium.

That spending power prompted the Austin Ad Fed and Hispanic Marketing Council to host the first Hispanic Marketing Symposium in Austin geared toward helping businesses develop marketing strategies. About 375 business and marketing professionals attended the sold-out event, which took place on Nov. 11 at the University of Texas.

Population growth is perhaps the biggest factor driving marketers' interest in Austin's Hispanic market, industry experts said.