A Critical Growth Driver
Hispanics currently account for over 20% of the total US population and are the driving force of U.S. economy thanks to a rise in population, workforce participation, entrepreneurship, and economic contributions.
THE POWER OF 65M+
20%
Of total population
67%
Of US population growth from 2021-2026 will come from Hispanics
$2.5
Trillions of US Hispanic buying power
58%
Of Hispanics are under the age of 34, only 42% of non Hispanics
SOURCE: US Census 2020
Hispanics are also a critical segment for companies looking for growth in any given category
44%
Growth of Hispanic-Owned businesses vs. 4% for non-Hispanic (2016-2022)
70%
Of home ownership growth from 2020-2040
$44
BILLION OF Hispanic representation of new car sales 2021
68%
Of US Labor Growth
SOURCE: 2021 Urban Institute, Orlando Business Journal 2022, Center for Economic Research and Forecasting,
Mobile
178 index
Hispanic HHs vs. non-Hispanic HHs -have 4+ mobile phones
145 index
Hispanics over-index for HD video streaming on mobile
30%
Of Hispanic HHs switched mobile providers last year
134%
More likely to have international talk, text & data
SOURCE: Claritas; The 2022 Hispanic Market Report
Banking
6million
Hispanic HHs switched primary financial institutions in the past 4 years
#1reason
Hispanics switch financial institutions: Poor Customer Service
75%
Of Hispanics have a checking account vs. 89% US avg.
35%
Of Hispanic HHs have a prepaid credit (debit) card vs. 24% of US HHs
SOURCE: Claritas; The 2022 Hispanic Market Report
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