International businesses target Mexico’s LGBT consumers
This year Google will be joining American Express, American Airlines at the annual LGBT Confex Expo in Mexico.
The event is becoming increasingly attractive to international corporations as the LGBT market continues to expand and its income grows.
Each year Out Now Global conducts the world’s largest market research initiative aimed at LGBT people.
The results of the most recent LGBT2020 study, due to be released this week at the expo, will show that 5.2 million LGBT people currently reside in Mexico – with a combined income of $74.4 billion over the last year.
This makes them a very attractive market for transnational companies such as Google. In addition data shows that many of these LGBT households are categorised as ‘DINKs’, or Double Income No Kids.
Currently 6% of the survey’s respondents are parents. The other 94% have a higher level of disposable income and this makes the LGBT market more attractive to businesses than their non-LGBT counterparts, who have a proportionally higher number of children.
This year’s LGBT Confex Expo begins today and ends on 14 June. The two day event hosted in Puerto Vallarta, Mexico, will include workshops and conferences.
A second LGBT Business Expo will be held from 2-4 October in Bogota, Colombia, focusing on technology, travel, media, education, entrepreneurship and education within South American markets.