Hispanics in the United States have quickly become one of the fastest growing populations, so it comes as no surprise that the economic impacts of this group in their distinct communities has caught the eye of many.
The Arizona Hispanic Chamber of Commerce held its 21st Annual DATOS: The State of Arizona’s Hispanic Market conference on September 22. This event brought together community leaders from across the state to present them with this annual report filled with research in the realms of Hispanic consumer behavior, consumer demographics, and much more.
For years, the Arizona Hispanic Chamber of Commerce has published these findings among numerous other publications. Some of these more specialized publications include data on supplier diversity, employee resource groups, sustainability, global trade, and economic indicators.
Monica Villalobos, vice-president of the Arizona Hispanic Chamber of Commerce and editor of the DATOS publication, noted that “this annual book is not an emotional response to heated political rhetoric. Rather, it is an extensive, thoroughly researched document based on easily verifiable facts about Arizona’s economy, one in which immigrants play a critical role in the growth and success of the state.”
In fact, according to 2016 U.S. Census data, 33 percent of Arizonans were Hispanic.
With landscapes in our state and country making rapid, daily changes, one of the few changes that remains constant is the impact of the Hispanic consumer—as presented by DATOS in its comprehensive research.
Gonzalo de la Melena, president and CEO of the Arizona Hispanic Chamber of Commerce, spoke to the importance of this publication, in a feature for the Phoenix Business Journal.
“DATOS was created so policy and business leaders statewide could have the best data available regarding the impact of Hispanics on the state’s economy as we plan Arizona’s economic development,” he wrote.
Initiatives, like DATOS, aren’t the only way that the Arizona Hispanic Chamber of Commerce is looking out for its community. As its primary mission, the Chamber represents the interests of the state’s Latino business owners—one of the points brought forward in the publication.
In fact, one of the DATOS findings reported that there are about 4.8 million Latino-owned businesses in the U.S., including more than 123,000 in Arizona.
In his opening speech at the conference, Kirk Adams, chief of staff for the office of Governor Doug Ducey, shared that, “the future prosperity of this great state that we all love is inextricably linked to the health, the educational attainment, and the economic opportunity of our Hispanic citizens.”
The educational attainment, as mentioned by Adams, is in fact a leading factor of those Hispanic entrepreneurs. According to the DATOS publication, nearly 50 percent of U.S. Latino business owners have at least a bachelor’s degree.
The comprehensive research that is presented by the Arizona Hispanic Chamber of Commerce in this publication is a compilation of secondary research available to them, from which either public information is compiled or the information is used with permission from those sources.
A copy of this 440-page publication can be obtained on a USB directly at the offices of the Arizona Hispanic Chamber of Commerce.