A report on the value of Latinos for the U.S economy was launched
The new figures of the Hispanic population in the country give a signal to companies to get more involved with this market.
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Through an alliance between the global communications consultancy LLYC and the national pollster Expedition Strategies, an investigation was carried out on how the U.S. Hispanic community, which already exceeds 62 million people — representing one in five Americans — continues to develop and become more relevant to the American economy and culture.
To learn more about their unique buying behaviors and preferences, the study surveyed 1,000 U.S. Hispanic consumers in various market areas from September 26 to October 1. The survey included questions on topics such as politics, economics, media preferences, and social media use, as well as general background and cultural information.
As shown in the report, the U.S. Hispanic community continues to evolve, growing larger and stronger. It doesn’t look the same as it did even five years ago.
Among the results of this study, the following stand out:
- The majority of U.S. Hispanics were born and raised in the United States.
- 77% of participants are native citizens.
- 74% of participants prefer speaking and reading in English.
- The U.S. Hispanic community is interested in savings and investment.
- 73% put their money into savings or investment accounts.
- 47% think it’s a good idea to invest, but don’t know enough to feel comfortable doing it.
- Hispanic adults are involved in U.S. politics.
- There was a 7% increase in voters in the 2020 presidential elections compared to the 2016 elections.
- 68% are very likely or certain to vote in the 2022 election for Congress and other offices.
“It’s up to U.S. companies to do their due diligence and familiarize themselves with the community in order to fully understand their habits as consumers. The findings of the study drastically change conventional wisdom regarding the U.S. Hispanic community,” said Peter Brodnitz, Founder of Expedition Strategies.
To read the full LLYC and Expedition Strategies 2022 U.S. report. Hispanics Report, click here.
LLYC is a global communications, digital marketing and public affairs consulting firm that operates in 20 offices and 12 markets in the Americas and Europe, with subsidiaries in the rest of Latin America.