The Hispanic and Latino market is on fire, there is a lot of income to spend there and they love personal electronics, and they are good voters. This is changing the dynamic in the United States and the way we live. This is an incredible segment of the consumer market that no company can neglect. Perhaps, that is why I have a very good book that I would like to recommend to you. The name of the book is;

“The Latin Boom! – Everything you need to know to grow your business in the US Hispanic market.,” by Chiqui Cartagena (female), published by Ballantine Books, New York, NY, 2005, (232 pp), ISBN: 0-345-48235-2.

This author knows exactly what she is talking about and grew up in Spain and runs a Hispanic media company. She tells us that in 2005 Hispanic families earned $4,000 more a year than African-Americans in the United States. Hispanics can be of many different nationalities: Mexican, Cuban, Puerto Rican, Latin American, and Spanish. Teenagers are urban trendsetters and by 2020 Hispanics will be 25% of the population in the United States and that’s on the low end of the projection.

It is estimated that by 2012 the disposable income of Hispanic citizens will exceed one trillion dollars. Although Hispanics also have the highest dropout rates, many of them are also self-employed or have their own businesses. In the United States, African Americans represent 36 million people or 13%, while Hispanic populations represent 41 million or 15%, and Hispanics are outpacing population growth by almost 2 to 1 today. In Puerto Rico alone there are 3.8 million Hispanics.

Hispanic voters were the decisive ones in the 2004 elections. In the 1960s, millions of thousands fled Cuba and arrived in Miami. Miami is also home to Argentines, Brazilians, and Venezuelans, all considered Latino. They bring with them their culture, strong family values, and future earning power. 80% of Hispanics in the US live in seven states; California, Texas, New York, Arizona, New Mexico, New Jersey, Florida, and Illinois.

In 2008 they had an estimated purchasing power of $800 billion, and at that time only 4% of Hispanics over the age of 50 earned $50,000 per year, although that figure is rising rapidly. The average Cuban-American is in their 30s and they are one of the more industrial groups running many businesses in Florida. 30% of foreign-born Hispanics do not speak English very well and 10% of US-born Hispanics do not speak English, although 30% are bilingual.

With larger families, they are inclined towards collectivism and believe in destiny and God, very religious people. They are spontaneous and much more able to relax than a typical white American. His spending on personal electronics is way over the top, which is perhaps why Carlos Slim is now the richest person in the world and is involved with cell phones and personal technologies. It is also known that the Hispanic population in North Carolina has quadrupled in the last decade, a story that will be repeated in many states in the coming years.

This book is a complete revelation to anyone who thinks they can neglect the Hispanic market in their business. Because nothing could be further from the truth: this is definitely the demographic and market segment to watch in your business, and that’s why I recommend you buy this book and educate yourself on this topic. This is a game changer, it will change everything, and it’s time for you to go with the flow to earn higher profits in your business.