Why the US Hispanic foodservice market tastes so good ECONOMIC OUTLOOK: Can Paraguay move forward from its corrupt past?
To begin with, the US Hispanic market is the fastest growing population base in all of the Americas, fuelled by record immigration growth over the last 15 years. As US Hispanics move into the middle and upper classes of US society, they dine out more frequently, creating new demands for Hispanic restaurants and flavors. This year, the 32 million Hispanic consumers in the US will spend more than their 100 million counterparts in Mexico and even 170 million Latinos in Brazil. For food consumed away from home, US Hispanics will spend $26.5 billion in 2002, 40% more than Mexicans or Brazilians. Moreover, Hispanic food is not for Latinos alone. Americans of all stripes have taken to Latin food and beverages, just has they have embraced Latin music. Over the last decade, Mexican foods like tacos, quesadillas, salsa, and frijoles have crept into the diverse American palate, along with beverages like tequila. These trends are creating outstanding opportunities in US markets for Latin American
