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The Hispanic population is the fastest growing ethnic group in the United States today. Between 1980 and the present, the number of Hispanics in the US grew by 53% compared to 6.8% for the US population (source: Bureau of the Census). Hispanics currently represent 13.5% of the US population.
Hispanics comprise 37.0 million or 13% of the US population which grew to 284.8 million in July 2001. That's up from 35.3 million or 12.5% of the country's 281.4 million residents in April 2000. As of 2003, there are 37 million Hispanic Americans in the US with $600 billion in purchasing power.
The absence of dedicated vehicles targeted at the Hispanic market has excluded many Hispanic entrepreneurs from alternative sources of strategic financing such as venture capital or private equity. Mainstream providers of capital continue to miss superior investment opportunities in this dynamic market.
As Hispanics acculturate; financial capability, product participation, and market understanding increases.
The Pew Hispanic Center strives to inform debate on critical issues through dissemination of its research to policymakers, business leaders, academic institutions and the media.
52% of the foreign-born Latinos believe that is doesn’t do any good to plan for the future because you don’t have any control over it. We are new to the philosophy of thinking from a place of abundance. We are now learning to move from the "I can’t afford it” to the "how can I afford it” mentality
"Many of us live our lives as if our financial status was predisposed by destiny, accepting whatever happens as inevitable outcome, the result of some intangible and unwritten path:
"Algunos nacemos para ser clavos y otros para ser martillos” ("Some of us are born to be hammers and others to be nails.”) -Very common Spanish-saying (JS: Hispanic 3/02)
"This is a fiercely independent population with a strong entrepreneurial spirit. Hispanics have long believed in hard work and saving as a strategy for growing money. Rather than invest across a diversified portfolio to grow money, almost half, 44% of affluent Hispanic Americans say personal savings will be their primary source of retirement income.” (Houston Business Jrnl. 8.11.03)
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