UGA researchers have found that racial and ethnic minorities have exploded in their buying power in the U.S. market since 1990.
In the 30 years since the University of Georgia’s Selig Center for Economic Growth launched its Multicultural Economy report, the population of the U.S. has grown more diverse, along with the nation’s buying power.
The report defines consumer buying power as total income after taxes, which has grown from $11.3 trillion to $17.5 trillion between 2010 and 2020 — a growth of 55%.
The buying power of Asian Americans has grown by 111%, Hispanics by 87%; Native Americans by 67%, and African Americans by 61%.
WUGA's Jeanne Davis filed this report.
