Mexico’s LGBT market earned USD$74.4 billion in income over the last yearAround the World, Online Only, Top Highlights Tuesday, June 10th, 2014
New market research data to be released this week at the 4th International LGBT Business Expo in Mexico will show that Mexico’s 5.2 million lesbian, gay, bisexual and transgender (LGBT) people earned USD$74.4billion during the past year. The findings are part of LGBT2020 – the largest global research initiative into LGBT people – and are to be presented at this week’s International LGBT Business Expo in Puerto Vallarta by CEO of the world’s leading LGBT specialist consulting firm, Out Now.
The International LGBT Business Expo is an annual networking business forum convened by LGBT Confex, Latin America’s leading LGBT business events and conferences organizer. Ian Johnson, CEO of Out Now said the new research adds to the growing knowledge base about the lives of LGBT people in Mexico – and around the world. “The latest LGBT2020 data for Mexico reveals a vibrant and increasingly confident market of over 5 million LGBT people living right across Mexico,” Johnson says. “Few LGBT households in Mexico currently have children leading to higher levels of available income for discretionary spending. Mexico’s LGBT population is now being targeted by a growing number of companies and other organizations attracted by the strong LGBT market. As more brands enter this market it encourages other companies to do the same. 2014 is proving to be the strongest year yet for LGBT market outcomes in Mexico.”
The LGBT2020 study surveyed 828 Mexican respondents, aged from 16 years old to those aged 65 and older. 52% are currently in a relationship with 9% having entered into a formalized civil marriage or registered partnership. 6% of respondents are currently parents however 39% expressed an interest to become parents in the future. The net outcome is high levels of DINKs households among LGBT people (‘double income, no kids’) with higher resulting discretionary incomes.
CEO of LGBT Confex, Ruben Sandoval, said his organization has seen a dramatic rise in the numbers of businesses now seeking to connect with LGBT people as customers. “Since LGBT Confex started working in the area of LGBT business development in 2011, many more companies are now attracted by the LGBT market,” Sandoval said. “This year we are welcoming major brands to the Expo such as Google, American Express, Marriott Hotels and American Airlines as well as small and medium enterprises from across Mexico. Our work leads to connections being made in ways that benefit LGBT people and strengthen the fabric of Mexican society generally by breaking down barriers. We foster greater understanding of the needs of LGBT people as workers, as customers and as members of society. We are very excited AS this week sees our annual LGBT Confex Expo event in Puerto Vallarta and Riviera Nayarit.”
The 4th International LGBT Business Expo www.LGBTbusinessExpo.com is being held at CasaMagna Marriott Resort in Puerto Vallarta and Riviera Nayarit, Mexico from June 12 – 14, 2014. Contact LGBT Confex www.LGBTconfex.com for more information. Out Now Global presents the latest LGBT2020 Mexico research data findings at 10am on Friday 13 at the Expo.
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