Importance of Spanish translation for US companies - II
- 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.
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International Translation Day is held in celebration of the feast of St Jerome, the Bible translator widely considered the patron saint of translators. The International Federation of Translators is the promoter of International Translation Day, and has been since it was first held in 1953.
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