A comprehensive study of multiculturalism in America by Geoscape determines that Asian and Hispanic households will outspend non-Hispanic White households in their lifetimes. The study pegs consumer spending for the remaining lifetime of an average Asian household at roughly $2.4 million, compared to slightly less than $2 million for Hispanics, about $1.6 million for Whites, and $1.3 million for Blacks.
The estimates are largely a result of remaining lifespan being greater for Hispanics (45.7 years) and Asians (41.2 years) than for Blacks (34.2) and Whites (31.1). That’s because while life expectancies range between 80 and 83 years for Hispanics, Asians, and Whites (76.3 for blacks), the median adult age of a Hispanic American (37) is far younger than that of an Asian American (41.1), Black American (42.1) and White American (49.1). Read the rest at MarketingCharts.