Pink Pound
Pink money describes the purchasing power of the LGBT community, often especially with respect to political donations. With the rise of the LGBT rights movement, pink money has gone from being a fringe or marginalized market to a thriving industry in many parts of the Western world such as the United States and United Kingdom. Many businesses now specifically cater to gay customers, including nightclubs, shops, restaurants, and even taxicabs; the demand for these services stems from common discrimination by traditional businesses. In 2019, LGBT adults globally held a combined buying power of approximately $3.7 trillion.
The economic power of pink money has been seen as a positive force for the gay community, creating a kind of "financial self-identification" which helps gay and lesbian individuals feel like part of a community which values them. Indeed, upwards of 90% of gay people support businesses which target pink money, while actively boycotting anti-gay companies. However, criticism has been leveled at businesses which target pink money from gay groups, arguing that this segregates the gay and lesbian community from society, and holds back gay rights. In recent years, the pursuit of pink money has come under scrutiny in some circles, questioning the sincerity of their support for LGBT causes.
Ruby Waters
- 2022-07-29T00:00:00.000000Z
Nice Try
- 2022-07-08T00:00:00.000000Z
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