Trump Immigration Fears Reducing Latino Buying Power

Since being elected in November, the Trump administration has led communities of undocumented Hispanic immigrants to reduce their spending, instead hording cash to prepare for potential deportation, according to the Financial Times.

It has been predicted that Hispanic buying power will reach $1.7 trillion by 2020, making the market a massive contributor to the country’s GDP.

“The Hispanic market is driving the growth of a majority of categories from financial to retail to automotive to telecoms,” said Linda Lane Gonzalez, chairman of the Association of Hispanic Advertising Agencies. “For the past 10 to 15 years, it has been a business imperative.”