Hispanic and Latino Americans depict a population that is the second-largest ethnic group in the United States, is much younger than the rest of the country, less educated, less wealthy, with a very large immigrant component, of no less than two dozen national origins and of every race, with a longer life expectancy than their fellow Americans, and geographically concentrated in the southwestern United States.
Hispanics are playing an increasingly prominent role in the U.S. economy. They are the youngest and fastest-growing segment of the population and are expected to make up nearly one-third of all people living in the United States by the year 2060.
The U.S. Hispanic population is estimated to increase from 55,410 million in 2014 to 119,044 million in 2060, constituting approximately 31% of the total U.S. population by that date.
In the next couple of years, 80 percent of our growth will come from the multicultural market, and 60 percent of that will come from the Hispanic population. U.S. banks are projected to spend over $8.5 billion marketing to and servicing the Hispanic market.
A new nationwide study on the fiscal implications of illegal immigration concludes that millions of undocumented immigrants are paying billions of dollars in taxes into state and local coffers.