Hispanic Market Translation: Fast Facts

July 31, 2014

Hispanic marketThe United States has the second largest Hispanic population in the world, after Mexico, and 1 in 6 U.S. residents are now of Hispanic descent.  Hispanics in the U.S. come from various countries of origin and the major unifying factor is the Spanish language. Many industries in the U.S. have a desire to connect to this growing market, making Hispanic Market translations more important than ever before. To help shed some light on the makeup, distribution, and presence of the U.S. Hispanic population, we’ve compiled a list of fast facts on the Hispanic market.

 

Distribution of the Hispanic Market

  • The top ten states with the largest Hispanic markets are California, Texas, Florida, New York, Illinois, New Jersey, Arizona, Colorado, New Mexico and Georgia.
  • Over half of the U.S. Hispanic population resides in one of three states: California, Texas, and Florida.
  • The state with the largest Hispanic population is California, with about 14 million Hispanic residents. This is over one quarter of the entire U.S. Hispanic population.
  • New Mexico has the highest percentage of Hispanic residents; almost half of the state’s population is Hispanic.
  • Maine, West Virginia, Vermont and Washington D.C. have the smallest percentage of Hispanic residents, around 1% of the total population in each state.

Makeup of the Hispanic Market

  • The Hispanic population of the U.S. is estimated at over 50 million, making them the largest minority group in the nation.
  • Mexicans are the largest Hispanic origin group in seven of the ten states with the largest Hispanic populations.
  • Mexicans are the largest Hispanic origin group overall, making up about 65% of the total U.S. Hispanic population.
  • Puerto Ricans are the largest Hispanic origin group in New York and New Jersey while Cubans are the largest Hispanic group in Florida.

Language of the Hispanic Market

  • Spanish is the unofficial second language in the U.S. with 30 million speakers.
  • Over 80% of Hispanic adults speak Spanish.
  • 95% say they feel it is important for future generations of Hispanics to learn Spanish.
  • A little over half of the Hispanic population in the U.S. report that they speak Spanish more often than they speak English.
  • According to the 2010 U.S. Census, Hispanics prefer to watch TV and listen to the radio in Spanish.

Trends in the Hispanic Market

  • Some major industries that require Hispanic Market translations include Healthcare, Consumer Goods, Banking and Finance, and the Public Sector.
  • The Hispanic market makes up about 11% of e-commerce sales in the U.S.
  • Hispanics make up about 35% of the Telecommunications, Entertainment and Technology market.
  • The Hispanic market accounts for 34% of the youth market; over half of the Hispanic market is less than 35 years old.

Growth of the Hispanic Market

  • The Hispanic advertising industry has four times more growth than any other advertising sector.
  • In the last five years the Hispanic media market boom has generated a huge growth in Hispanic market translation.
  • The U.S. Hispanic population has seen a major increase in purchasing power in recent years, from $276 billion in 2002 to $1.2 trillion in 2012.
  • Projections say that the population of Spanish speakers in the U.S. will double by the year 2050, bringing the total Hispanic population in the U.S. to 100 million which will be 30% of the nation’s population.

If you would like additional information on this topic or have questions on planning and executing your next translation or multilingual initiative, contact us today for a free 30-minute consultation or call us at (800) 413-7838.

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