Hispanic consumers will have a ton of buying power during the next few years — especially in Arizona, according to a report released Friday.
The Arizona Hispanic Chamber of Commerce "2019 Datos: The State of Arizona’s Hispanic Market" reported Hispanic buying power in Arizona will reach $57 billion in 2022.
The 23rd annual Datos report also found Hispanic-owned businesses are playing an increasingly important role in the American economy.
The number of Hispanic-owned businesses increased by 40.2% from 2012 to 2018, while all U.S. businesses grew by 18.8% in comparison.