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The information below focuses on the growing U.S. Latino Market and how major industry is taking notice.

Latino Population

Nationally…

• Projected growth of Latino population is expected to reach 102.6 million on the U.S. mainland by 2050, more than doubling the current estimate of 41.3 million Latinos according to the U.S. Census Bureau as of July 1, 2004.
• Latino-owned firms are expected to increase 55% to 3.2 million by 2010, with revenues of those firms increasing by 70% to more than $456 billion in the same period of time (estimates by HispanTelligence).

Top 10 Latino Markets Rankings*

Sorted by number of U.S. Latino Persons (Population) – 2005

Sorted by Population growth of U.S. Latinos Persons (Population) – 2005

Sorted by U.S. Latinos Median Income (Population) – 2005

* Source: Geoscape Intl., American Marketscape DataStream: 2005 Series, Copyright, Geoscape Intl. Inc.

• Banking Among Latinos population and wealth are rising 3 times faster than the U.S. average, yet only 56 % of Latinos have ever had a bank account according to researcher Simmons, Inc.
  • Well’s Fargo & Company is redecorating branches with Mexican themes, which they believe helped attract most of the 700 new Latino accounts they opened per day last year.
  • Bank of America used Spanish Language advertising and brought in 1 million new checking accounts from Latinos in 2004, representing 25% of the accounts opened.
  (source 1)

• Entertainment The number of Spanish Language channels has grown in the past few years and now measures 35 networks according to the Nielsen Media Research.
  • Viacom-Nickelodeon has attracted a multicultural audience with it’s popular “Dora the Explorer” and will sell during this year’s upfront a new series, "Go Diego Go!,” starring Dora’s eight-year-old cousin Diego.
  • Discovery will launch two Spanish-Language networks, Discovery Kids en Español and Discovery Viajar y Vivir (Travel & Living).
  (source 2)
  • Sí TV, a 24-hour cable channel targeting young Latinos, was launched in February of 2004 and is now in 10 million households. With its motto of “Speak English. Live Latin,” Sí TV is marketing to an audience of young Latinos who have been cited as demonstrating attitudes that emphasize combining traditional Latino culture (strong emphasis on family and religion, for example) and traditional American values (i.e.: buying a car and going to college).
  (source 3)
  • NASCAR announced the formulation of NASCAR Mexico, a new base of operations in Mexico that will support and build local stock car racing in Mexico as well as develop, manage and operate local motor sports events and oversee television distribution, sponsorship and licensing.
  (source 5)

• Publication/Print
  • Random House Publishing- After a decade-long commitment to the U.S. Spanish book market, Random House’s Vintage Español will significantly expand the range of its publishing activity. Expansion of Random House’s Spanish book line will include commercial fiction, best sellers, in translation and books on health, diet and parenting.
  (source 4)

• Retail
  • Sears scheduled to unveil Latina Life, a “Hispanic Inspired” women’s apparel line. The line is using tropical colors, faux-fur prints, spangles and sizes befitting “curve conscious” Latinas and an “active lifestyle and a unique sense of self.”
  • Kmart launched a line of household goods inspired by Mexican Singer Thalia in August of 2004.
  (source 3)

• Wireless Market: Latinos posses more than $580 billion in disposable income and a median age nearly 10 years younger than the general population- both highly desirable traits for wireless operators. Furthermore a study by Insight Research Corp. found that 40 percent of Mexicans have a relative living in the United States.

• • Cisneros Group of Companies, a private entertainment and media company, announced plans to launch Movida Communications, Inc., using Sprint Corp.’s network. Movida Communications, Inc. will be distributed through Wal-Mart locations targeting the Latino community with prepaid voice and data services.
  • InPhonic, Inc., a leading online provider of wireless services and devices, starts Viva Liberty, Spanish language wireless service in 2005.
(source 5)

Source: U.S. Census Bureau

“By 2050, America will finally be a nation with no majority population.”

Source: The Selig Center for Economic Growth, University of Georgia, 2004

Sources