These days, you hear a lot about the influence of Hispanics in the US. Experts, journalists, politicians, and influencers talk about how Latinos are shaping the American experience, how we form almost 20 percent of the population and are only growing in presence. There is no doubt that we have come a long way, and have even further to go. But when you look behind the generalizations and dive into the numbers that fuel these statements, two things happen: You understand just how powerful the Latino community is today, and you can’t help but feel proud of what is to come. Let’s take a closer look at the data behind the rise of Latinos in the U.S.
Understanding the U.S. Hispanic Market
From 2010 to 2020, Hispanics accounted for 51 percent of the total U.S. population growth. The next largest percentage was Asian at 23 percent. In total, Latinos formed almost one half of the total multicultural population of this country in 2020. Let that sink in. Think about what it means for brands trying to market their products to new audiences; to the adoption of music, food, customs, and traditions that were once considered foreign. One of the beautiful things about the Latino culture in this country is its inclusivity. It has been a beautiful merging of traditions, customs, and celebrations. Taco Tuesday and Cinco de Mayo are more American traditions than Mexican ones, while 57 percent of Hispanics connect with American culture and 40 percent see themselves equally as American and Latino. Latino Gen-Zers, in particular, increasingly embrace their dual identities.
Beyond the cultural growth, Hispanics in the US represent a staggering economic powerhouse. Take a look at the GDP of just the U.S. Latino population as compared to the wealthiest nations on Earth.
As a community, Hispanics in the US have more economic wealth than India, the U.K., France, or Canada. That kind of purchasing power makes U.S. Latinos a force to be reckoned with, and a community that marketers and brands must consider if they want to succeed. And they need to do it now, because by 2025 Hispanics will likely contribute more to the national GDP growth than non-Hispanics.
Who Is the U.S. Hispanic?
Before we answer that question, let’s get the “Hispanic vs. Latino” question out of the way. These terms are used interchangeably (including by us), but there is a difference between them. Hispanic refers to people who are from or descended from Spanish-speaking countries or communities, or who speak Spanish. The term was coined by the U.S. Census Bureau in the 1970s. Latino, on the other hand, refers to ancestry from Latin America, including Central America and the Caribbean. Brazilians and Haitians are Latino but not Hispanic. A person from Spain is Hispanic but not Latino. Including Puerto Rico, there are 19 cultures that are both Hispanic and Latino.
Then there’s LatinX and to a lesser extent, Latiné, the gender-neutral alternatives to Latino or Latina. While it’s a buzzy term, only about 3 percent of U.S. Hispanics use it, mostly among younger generations.
More than the label, its the cultural connectors and language that define Latinos in the U.S. Gone are the days of the stereotypical, one-size-fits-all approach to the Hispanic population. For one, more than 80 percent of U.S. Latinos are English speakers. For another, Latinos are comprised of a rich tapestry of cultures, backgrounds, and interests, many of which cross into the mainstream.
Take sports as just one example of how the Latino experience has evolved in the U.S. Baseball has long been the American sport most beloved by Hispanics, but there’s a reason NFL games are now being played in Mexico and Brazil. Football (not fútbol) has seen a significant rise in Latino fandom, so much so that the sport is projected to attract more than 50 million Latino fans by 2050. In other words, to connect with today’s Latino, you have to understand the nuances of Latino and American identity.
Leading the Way
Speaking of breaking stereotypes, U.S. Hispanics are not just the migrant labor class of a few years ago. One out of five entrepreneurs in the U.S. are Latinos, and Latino entrepreneurs have launched more businesses than any other ethnic group in the U.S. in the past 10 years. In fact, more than 70 percent of new workers in America are Hispanics.
Let’s shatter another long-held truism: the machista Latino culture. Latinas are leading the way forward. Latina-owned businesses generate $120M in revenues annually, and they create small businesses six times faster, besting their male Latino counterparts as well as non-Latina females. Our jefas are also making massive inroads through education, with more Latinas earning Bachelor or Advanced degrees than ever before. And they are earning higher-skilled occupations and enjoying increased representation in management, business, science and the arts.
Raising Their Voice
Finally, Latinos are making their presence felt in politics. More than 31 million Latinos were eligible to vote in 2020, making up the second-largest bloc of the U.S. electorate. In fact, since 2000, the number of Latinos in elected office has nearly doubled. While the percentage of Latino officials in government remains relatively small, it is growing in stature and paving the way for more representation on both sides of the aisle. Where Latinos cast their vote is likely to determine the political future of the U.S. for years to come. By 2050, for example, Latinos will be the largest voting segment in the top three states in terms of electoral college votes.
Moving Forward With Pride
On this Hispanic Heritage Month, we celebrate our roots, our heritage with pride and joy. But we also look to the future with optimism, ambition, and hope. Because in the future, se habla español.
