To understand Latino immigrants you have to consider two main characteristics: their youth and commitment to succeed. Latino immigrants are already a fundamental element for this country’s future.
And that’s where Tambien Somos AMERICANOS comes in. Our mission is to help newcomers become Americans. We work for immigrant integration in a friendly, down to earth and practical manner. We are proud to serve as a trusted source for a 54 million people universe. AMERICANOS is here, telling stories that connect people to their new community. Our high quality editorial and multi-platform media programs offer marketers access to the most influential and affluent consumers with a buying power superior to $1.3 trillion.
Despite the Congress poor vision and zero capability to deliver the Immigration deal already approved in the Senate, nothing better for this Hispanic Heritage Month than a friendly remainder about the basic numbers about the Latino community and its fundamental role to define this nation future. In consideration of their demographics, economics and cultural influence, it is just fair to recognize that Latinos are the new American middle class.
Latino population has increased by more than 52% since 2000. In the same period, the non-Latino white population grew less than 2% and blacks by 14%.
The size of the U.S. Hispanic population worldwide ranked 2nd, as of 2010. Only Mexico (112 million) had a larger Hispanic population than the United States (50.5 million). Hispanics are the Fastest-Growing U.S. population. Even with the current immigration rate of zero, by the end of this decade, there will be 66 million Latinos living in the U.S.
There are more Latinos in the U.S. than Canadians in Canada or Spaniards in Spain. The U.S. Hispanic market ranks as the third largest “Latin American economy” behind Brazil and Mexico. In the near future, America’s Latino market would be the 11th-largest economy in the world—just below France, Italy and Mexico, and above South Korea, Spain and Indonesia. At $20,400 per capita, Latino America’s purchasing power already exceeds the GDP per capita of all four BRIC countries—Brazil, Russia, India and China.
Nowadays Latino immigrant families –there are 10.7 million and in the next few decades will be one third of the nation population– are visible everywhere, but mostly at the school –the average U.S. born is High School age—and at a workplace. Latinos have the highest labor-force participation rate (nearly 67%) of any American demographic group.
Immigrant-owned small businesses employed an estimated 4.7 million people and generated an estimated $776 billion in receipts in 2007. In fact, over the past two decades, immigrants made up 30 percent of the growth in small business creation. Immigrants, who represented about 13% of the U.S. population, accounted for 39% of net growth in homeowners between 2000 and 2010.
With 3 of every 4 foreign born U.S. 40 million residents having roots from Latin America and share the same language (Spanish, of course) it should be no surprise no anybody, the creativity of the new comers: Immigrants founded 18 percent of 2010 Fortune 500 companies, creating jobs for 3.6 million people. When including immigrants and their children, the number of Fortune 500 companies with immigrant roots jumps to 40 percent, employing more than 10 million people.
As a market, the U.S. Latino is already a treasure. The Latino purchasing power is $1.3 trillion. Their disposable income is projected to nearly triple in a 15-year period (+173% 2005- 2020); that’s more than double the non-Hispanic growth rate during the same period (+82%).
Latinos spend more than non-Hispanics in groceries, telephone services, furniture, men’s and boys apparel; also, children’s clothing and footwear. As well, spend a higher proportion of their money on food (groceries and restaurants), housing, utilities, and transportation, and about the same as non-Latinos on housekeeping supplies, furniture, appliances, women’s and girl’s clothing, and personal care products and services.
By the way, they do it mostly in Spanish. More than eight-in-ten (82%) Latino adults say they speak Spanish, and nearly all (95%) say it is important for future generations to continue to do so.
No surprise there either. They are much younger and with more needs than the average person. Latinos are younger, median age is 27.Their families are larger than the average. And they have momentum: every 30 seconds, a Hispanic turns 18 years old. Therefore, it wont is exaggerated to recognize that the future of America will be the future of their Americanos.
October 2013
