Hispanic Market Facts

Population Facts

• There are 43.5 million Hispanics in the United States. The U.S. is the world's 2nd largest country of Hispanics and there are more Hispanics in the United States than there are Canadians in all of Canada. (Source: Synovate, 2004)

• Mexico accounts for 66.5% of all Hispanics. They are followed by Central Americans (9.1%), Puerto Ricans (8.8%), South Americans (5.3%), Cubans (3.8%), Dominicans (3.0%) and Others (3.5%). (Source: Synovate, 2004)

• The Selig Center states that the top ten states, as ranked by the rate of growth of Hispanic buying power over 1990-2002, are North Carolina (912%), Arkansas (778%), Georgia (711%), Tennessee (655%), Alabama (466%), South Carolina (463%), Nevada (443%), Minnesota (418%), Kentucky (415%), and Iowa (370%). Georgia and North Carolina also rank ninth and eleventh in market size, making them two of the most attractive Hispanic markets in the nation.

• According to Synovate, the Top 10 markets by Hispanic population are:

Buying Power

ˇ U.S. Hispanic purchasing power has surged to nearly $700 billion and is projected to reach as much as $1 trillion by 2010 (HispanTelligence, 2004 "U.S. Hispanic Purchasing Power: 1978-2010)

ˇ Between 1994 and 2004, U.S. Hispanic purchasing power grew three times faster than the overall rate in the last 10 years for the general market, (HispanTelligence, 2004 "U.S. Hispanic Purchasing Power: 1978-2010)

Language

ˇ 63% of all Hispanic households are Spanish dominant, 23% are equally Spanish and English bilingual and 14% are English only or more than Spanish (Source: Synovate, 2004)

ˇ 96 percent of Hispanics use at least some Spanish at home and 86 percent do so at work or school and two-thirds report that Spanish is more important now than five years ago, according to the 2002 Hispanic Monitor.

ˇ The 2002 Hispanic monitor reports that a majority (69 percent) of Hispanics get more information about a product when it is advertised in Spanish than when it's advertised in English only.