The Latin market is a $273 billion consumer market and if you have the right pitch you can easily reach it.

Here is and overview of the Latino market in the USA and the world.

Considering that this market is one of the most exciting ones because of its growth and potential, here are some demographics:

  • The Latino population is now very close to 40 million in the United States. This makes the USA the fourth largest Latino population in the world (smaller only than Mexico, Spain and Colombia).
  • It’s growing extremely fast and by this year, 2005, the Latinos have outnumbered the African American Population. The Latino USA population is now the largest minority group.
  • The Latino population is concentrated geographically in four states: California, Florida, New York, and Texas. More than 70 percent of Latinos live in those states and 45 percent live in the cities of Chicago, Los Angeles, Miami, New York and San Francisco.
  • Mexican-Americans make up 64 percent of the total US Latino population and reside predominantly in the Southwest, California and Texas.
  • Central and South Americans comprise the next-largest segment, numbering about 4.5 million, or nearly 15 percent of the total US Latino population. They primarily reside in Southern California but are emerging in other areas, such as Washington, DC, as well.
  • Puerto Ricans, who represent about 10.5 percent of the total US Latino population, are concentrated in New York and New Jersey. There are close to 4 million Puerto Ricans living on the island of Puerto Rico; there are nearly 2 million Puerto Ricans living in New York.
  • Finally, Cubans, concentrated in Florida, represent about 4.7 percent of the total US Latino population

PERCENTAGE DISTRIBUTION OF HISPANIC TYPE: 2002

As you can see in the above information there are Latinos that come from different parts of Latin America. The way they need to be approached would be different depending which specific country they are from as each one has its own culture, customs and values. You might say that they have a similar background but nonetheless the way you approach each nationality is the key to success in the Latino market.

The Latino population in the USA is fastest growing due to a natural increase (births over deaths) as opposed to immigration, as many mistakenly think. This means that the Latino/Hispanic Market is younger than the General Market -- with a median age of 24 years, compared to 34 years in the General Market.

Latinos are the fastest growing demographic group in the United States, with the highest concentration being in Southern California. For the last decade, Los Angeles has been home to the third-largest Hispanic population in the world (seven million people) with a buying power of $66 billion each year.

For more explanation please see the graph below.

Media Coverage in the United States

Univisión 98% of all Spanish speaking household
Telemundo 92% of all Spanish speaking household
Telefutura 83% of all Spanish speaking household

The information above shows the capacity of the Hispanic market in the USA Now we will show you the capacity of the Hispanic Market in the World. Below is table with information about Hispanics all over the world.

COUNTRY SPANISH SPEAKING POPULATION (HISPANICS)
Spain
41,547,000
 
United States
38,500,000
 
Equatorial Guinea
300,000
 
Philippines
2,900,000
 
Guatemala
14,223,400
 
El Salvador
6,700,000
 
Honduras
6,606,000
 
Nicaragua
5,777,700
 
Costa Rica
4,148,500
 
Ecuador
12,471,000
 
Peru
27,083,000
 
Mexico
101,457,200
 
Cuba
11,822,800
 
Dominican Republic
7,300,000
 
Puerto Rico
3,500,000
 
Panama
2,991,000
 
Venezuela
23,865,000
 
Colombia
44,533,100
 
Bolivia
8,274,325
 
Paraguay
6,028,000
 
Argentina
36,933,000
 
Chile
15,265,600
 
Uruguay
3,364,000
 

Just imagine being able to reach 425,590,625 Latinos around the world. How much will your sales or goodwill toward somebody, a company or a product increase? This is just an overview of your potential with the Hispanic market.

This facts were found in the World Atlas, USA Census 2002, www.findarticles.com <http://www.findarticles.com> - Latin beat: prospects in the Hispanic American Market by Christy Haubegger, Univisión Television and Telemundo Television.