Minority spending heavy in Georgia, nationwide - WALB.com, South Georgia News, Weather, Sports

Minority spending heavy in Georgia, nationwide

July 30, 2007

Albany--  The buying power of minorities is growing nationwide and in Georgia.

In fact, African Americans here spend more than those in every other state besides New York and Texas. The Selig Center for Economic Growth at the University of Georgia reports black consumers in Georgia will spend a whopping 58-billion dollars this year.

Nationwide, the number is $845 billion and could hit a trillion dollars in a few years. William Livingston owns New York Fashions in Downtown Albany. He says many people underestimate the power of the minority dollar.

"We do have an extremely powerful buying power with the economy and when the economy does well, everyone does well and you have better healthcare facilities, you have better schools and the tax index, you don't have to pay as much taxes," said Livingston.

Hispanic spending is expected to top that of African Americans this year and could soar to $1.2-trillion in just five years. Georgia ranks tenth in Hispanic buying power.  

feedback: news@walb.com?subject=MinorityBuyingPower

 

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