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The Growing Hispanic Market in the United States

Lon Schultz
Strictly Spanish LLC, Cincinnati, Ohio

Hispanics have become the largest minority in the United States. There are areas in the U.S. where Spanish is the predominant language—you might not even be understood if you speak English. You encounter this in sections of Texas, California, Florida, New Mexico, New Jersey, New York, and Illinois, to name a few. The Hispanic population is now over 40 million and it is increasing rapidly. This represents about 14 percent of the total population of the United States. According to the U.S. Census Bureau, this percentage will double by the year 2050. It is also projected that the Hispanic purchasing power will top $1 trillion in 2007.

Virtually every type of company and organization in the United States is being impacted by the growth of the Hispanic population. You see it in government, healthcare, manufacturing, food service, construction, education, finance, legal, and these are just a few examples. Marketing and selling to the U.S. Hispanics has become so important that universities are offering programs on the subject. Florida State University has recently created a center for Hispanic marketing communications offering graduate certificates and undergraduate minor programs.

Speaking Spanish in the United States is here to stay and growing. This is obvious to anyone living anywhere in this country. All Americans encounter Spanish-speaking people in their daily lives— whether shopping, going out to a restaurant, at the doctor’s office, or at their place of employment. A study recently released by Hispanic U.S.A., Inc. called “The Future Use of the Spanish Language in the USA” says that the number of Spanish-dominant and bilingual Hispanics will increase by 45 percent over the next 20 years.

What does all this mean to U.S. businesses? The answer is obvious—Spanish translations of important materials! It's quite prevalent to see Español buttons on websites so a Spanish speaker can click on it and be re-directed the Spanish version of the site. Companies know that they can increase their profits and market share by communicating their message in Spanish, whether online or with published materials. It is also becoming very common for U.S. companies to have their employee manuals, benefit forms, and training materials in Spanish. Spanish speakers are becoming a very significant part of the workforce and they need to be trained properly, in their native language.

Following are some facts for consideration:

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Virtually every type of company and organization in the United States is being impacted by the growth of the Hispanic population.