Welcome to a trillion dollar market!
Facts and Figures
- Because of the high birth rate and increasing immigration, the Hispanic population is growing at a rate much faster than the total U.S. population, a trend anticipated to continue. Between 1990 and 2008, the Hispanic population has increased by 107% compared to 14% for the non-Hispanic population.
- The 2006 American Community Survey shows that one out of every seven people who reside in the U.S. is of Hispanic origin. Three out of five Hispanics residing in the U.S. were born in the United States and approximately half of all U.S. immigrants are from Latin America.
- According to the U.S. Census Bureau there are an estimated 44 million Hispanics in the U.S. as of 2009. This means the United States is home to the world’s third largest Hispanic population (trailing Mexico and Colombia.)
- This market is becoming more affluent at a rapid rate. According to HispanTelligence.com the U.S. Hispanic market purchasing power is projected to reach 1.3 trillion dollars by the year 2015.
- Hispanics spend greater percentage of their money on housing and vehicle purchases, and they spend similar amounts as non-Hispanics on restaurants, househould supplies and personal care.
- Spanish is the second most spoken language worldwide and it is the most commonly taught foreign language in the United States. Because of the Hispanic population living in the U.S. now reaching millions, Spanish is recognized in many states at the government level.
- The U.S. Hispanic population is projected to grow exponentially to over 100 million people by 2050, which will be approximately one quarter of the total U.S. population.
Sell it in Spanish works with businesses to develop or modify marketing strategies to reach Hispanic consumers.
2011 Report, “Hispanics Account for More Than Half of Nation’s Growth in the Past Decade”
- The 2010 Census counted 50.5 million Hispanics in the United States, making up 16.3% of the total population. The nation’s Latino population, which was 35.3 million in 2000, grew 43% over the decade. The Hispanic population also accounted for most of the nation’s growth—-56%—-from 2000 to 2010.
- Among children ages 17 and younger, there were 17.1 million Latinos, or 23.1% of this age group, according to an analysis by the Pew Hispanic Center, a project of the Pew Research Center. The number of Latino children grew 39% over the decade. In 2000, there were 12.3 million Hispanic children, who were 17.1% of the population under age 18.
- Although the numerical growth of the Hispanic population since 2000—-more than 15 million—-surpassed the totals for the previous two decades, the growth rate of 43% was somewhat slower than previous decades. Growth rates topped 50% in the 1980s (53%) and 1990s (58%).
- Geographically, most Hispanics still live in nine states that have large, long-standing Latino communities—-Arizona, California, Colorado, Florida, Illinois, New Mexico, New Jersey, New York and Texas—-but the share living in other states has been growing. In 2010, 76% of Latinos lived in these nine states, compared with 81% in 2000 and 86% in 1990. (In 2000, 50% of Hispanics lived in California and Texas alone. In 2010, that share was 46%.) Despite the pattern of dispersion, however, there are more Latinos living in Los Angeles County (4.7 million) than in any state except California and Texas.
- The states with the largest percent growth in their Hispanic populations include nine where the Latino population more than doubled, including a swath in the southeast United States—-Alabama, Arkansas, Kentucky, Mississippi, North Carolina, Tennessee and South Carolina. The Hispanic population also more than doubled in Maryland and South Dakota.
