LGBT Spending Power for 2015 Estimated at $917 Billion
The combined buying power of the U.S. lesbian, gay, bisexual and transgender (LGBT) adult population for 2015 is estimated at $917 billion, according to a new analysis by Witeck Communications. Releasing the finding, Bob Witeck said, “Buying power – also known as disposable personal income (DPI) -- is not the same as wealth. It is a practical tool for economists and marketers, in particular, to signal the increasingly visible contributions made to our economy by America’s diverse gay, lesbian, bisexual and/or transgender individuals and households.” Disposable personal income (DPI), according to economists, is the amount of money that individuals have available to spend and save after paying taxes and pension contributions to the government (roughly 86% of income). Witeck added, “To understand this estimate, it’s important to underscore that there is no evidence that same-sex households or LGBT people are more affluent or, on average, earn more than others. That is a stereotyp...