Hispanics and Other Ethnic Markets to Spend One Third of Telecom Dollars by 2009

Over US$94 billion of the US$288 billion dollars spent on telecommunications services in 2009 will come from US ethic communities, according to a new market research study from The Insight Research Corporation. The ability to tap into the increased spending power of Hispanic American, African American, and Asian American communities will be crucial to the survival of telecommunications providers over the next five years.

Insight Research's market analysis study takes a close look at the purchasing habits and telecom usage patterns of the growing Hispanic segment of the US population. In the last census, Hispanics surpassed the African-American population as the largest minority group in the US, catching much of corporate America off guard.

"When you look at the purchasing power that the Hispanic American, African American, and Asian American communities will exert in the telecommunications industry in just a few years, it can't be business as usual," says Robert Rosenberg, Insight Research. "Wireless carriers who are spending millions on undifferentiated advertising, and wireline carriers that will be engaged in fighting cable MSOs for survival must refocus and succeed with the Hispanic American, African American, and Asian American communities or they simply won't survive," Rosenberg concluded."

Posted to the site on 16th April 2004