Importance of Spanish translation for US companies - II

July 30th, 2010
Continuing the discussion on the importance of Spanish translation for U.S. companies, here are some startling statistics on the growing domination of Hispanics, the Spanish speaking population in the U.S.:
  • The no. of Hispanics in 2004 exceeded 43.5 millions accounting for nearly 15% of the total U.S. population. Their number is growing 5 times faster than the general population and has increased by over 70% in the last 10 years.
  • By 2020, one in five Americans will be of Hispanic origin. Their natural growth in population is more than the new immigrants coming into the U.S.
  • By 2050, the Hispanic population is expected to cross 100 million with an addition of about 1 million per year at present.
  • Regarding the affluence of Hispanic households, 64% are classified as middle class with more than 50% of them buying their first home.
  • Hispanics are entering the cyberspace at a fast pace with over 14 million of them online. The average Hispanic internet user has an annual income of $51600 and is 32 years old male. Nearly 50% of the Hispanic internet users use Spanish. About 74% connect to the internet daily and 78% have connection at home.
  • The purchasing power of Hispanics is also growing fast, with a figure of US $630 billion in 2004. There are 500 newspapers, 150 magazines and 200 publishers in Spanish in the U.S. Advertising expenditure targeted at the Hispanics has also been growing at a fast pace with TV alone accounting for $1.41 billions in 2005. TV advertising in Spanish has grown by 74% in the last 5 years.
The above figures show that the Spanish speaking populace is thriving in the U.S. and hence the need for developing oral and written content in Spanish as also translation from and into Spanish. Spanish is also becoming important medium of communication for achieving commercial success with growing clout of Hispanic population. Translation agencies in U.S. have to necessarily include Spanish as one of their offerings for their success. Consumer goods manufacturing companies in U.S. have to market using not only the traditional channels but also the growing medium of internet in order to reach the Hispanic population. The websites have to be both in English and Spanish which offers opportunities for translators who are well versed in both the languages. The Hispanic population is also spreading geographically with significant migration to the states of Virginia, Georgia, Tennessee, Arkansas and North & South Carolina in the recent past. To summarize, in order to achieve commercial success companies in U.S. cannot afford to ignore the Spanish speaking population and hence the importance of Spanish translation is also growing exponentially along with their population.

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