Marketing to the Latino community
The Latino community is growing in the United States and represents significant buying power. This group also has significant legal needs.
Here are some facts from the U.S. Census Bureau that warrant consideration when thinking about expanding your law practice:
By the numbers:
1.41.3 million people as of July 1, 2004, 14% of the nation’s total population, making this group the nation’s largest ethnic minority.
2.102.6 million people, the projected Hispanic population in the United States as of July 1, 20050, 24% of our population at that time.
3.22.4 million people in the 1990 census, just over �? of the current level only 14 years ago.
4.49% of Hispanic-origin population that lives in California and Texas.
5.California is home to 12.2 million and Texas is home to 7.6 million people of Hispanic origin.
6.43% of New Mexico’s population is of Hispanic origin, highest of any State. California and Texas are at 34% each.
7.4.3 million people of Hispanic origin live in Los Angeles County, the largest concentration of any county in the United States.
8.1.6 million Hispanic-owned businesses in the United States in 2002, an increase of 31% from 1997, with receipts of $226.5 billion, an increase of 22% from 1997. Companies in this category with paid employees represented $184 billion or more than $900,000 revenue per company.
9.About 40% of the Hispanic-owned companies were service providers with another 13% in construction.
10.9.1 million Hispanic families live in the United States.
11.7.6 million people in the Hispanic community registered to vote in 2004, up from 5.9 million 4 years earlier.
12.Real median income was $32,997 in 2004, down 2.6% from the previous year. The poverty rate of 22.5% was unchanged from the earlier year.
13.58% of Hispanics age 25 and older had at least a high school education in 2004 while 12% of this group had a bachelor’s degree or higher.
14.714,000 of Hispanics in this same age group had advanced degrees in 2004.
15.10% of all college students in 2003 were of Hispanic origin, an increase from 4% only 20 years earlier.
Categorized in: Marketing