The U.S. Hispanic and Latin American markets offer enormous potential for organizations to engage dynamic, influential, and tech-savvy communities.
The U.S. Hispanic market is experiencing incredible growth:
• Hispanics are the largest minority group in the nation.
• They are 50.5 million strong, representing 16.3% of the total U.S. population and growing.
• They currently have a spending power of over $1 trillion annually.
Hispanics are media savvy and have embraced the web, social media and mobile at a rapid rate.
• They are more likely to buy the latest phones, upgrade them, and use their special features.
• 29.6 million (or 59.5 percent) of U.S. Hispanics go online at least once a month, and this number is expected to grow to 39.2 million (or 70%) by 2014. (eMarketer)
• Latinos are the heaviest users of the web via their cell phones. (Orci)
• Nearly 80% of Latinos engage in some type of social media. (Orci)
In Latin America, over 63 million people log on every day – connecting to portals, social networking sites, shopping, and seeking and educational opportunities.
• Latin Americans are the world’s leaders in social networking, spending an average of 375 minutes per user per month on social networking sites. North Americans spend 249 minutes per user.
• Latin Americans top the global online time chart for online usage at 28.6 hours a month compared with the worldwide average of 25.7 hours.
• As of April 2008, Brazil had the largest online population in Latin America with 19 million unique users. Mexico comes in second with 11.7 million, followed by Argentina with 8.4 and Chile at 5.3.
• Many Latin Americans are using mobile devices to access the Internet. Mobile penetration in Latin America and the Caribbean was over 66% in early 2008, well above the world average of 46%. With 375 million people owning a mobile phone in early 2008, Latin America and the Caribbean hold approximately 12% of the world’s 3.04 billion mobile subscribers.