There are about 5000 languages spoken around the world. In terms of popularity, Spanish is number four, after Chinese, Hindi and English. In the United States there are 37 million native Spanish speakers, making up 15% of the country’s population, according to a 2010 census – and that number keeps going up. The Hispanic sector is currently one of the fastest growing markets in the United States. With numbers like these, companies simply cannot afford to overlook Spanish speaking consumers. In the words of Javier Palomarez, CEO and president of the Washington U.S. Hispanic Chamber of Commerce “Hispanic consumers and their increasing purchasing power are the growth engine for the U.S. economy”.
Even though Hispanic consumers tend to concentrate in big cities like New York, Miami and Los Angeles, new markets are springing up across the country. Not only is the Hispanic population growing at an incredible pace, but so is its purchasing power. In other words, every day there are more Hispanics that can afford to go to premium shops and buy things like luxurious cars. Indeed, they play a crucial role in the economy of the United States.
Business owners and real estate investors are becoming increasingly aware of this, and are starting to take action. The first step of course is to learn the language. Knowing the language will allow business owners to better connect with their Hispanic employees, as well as to better sell to the Hispanic portion of the population. In the same way a business owner is looking to connect with employees, and sell to the Hispanic market, by learning Spanish, real estate investors can expand their potential tenant base to include Spanish speaking tenants, and then maintain a much better landlord tenant relationship.
To find Spanish programs in your area, try a quick Google search. Simply include “Spanish Lessons” and then the city you are in. If you live in Vancouver, for example, you would simply type in Spanish lessons Vancouver.
The Hispanic market is growing at an unbelievable rate in the U.S. Learning Spanish will soon become a must in this country, and the sooner you take it upon yourself to learn the language the more benefit you will obtain from it. Even if you aren’t a real estate investor or business owner, learning Spanish will open up a plethora of new job opportunities for you, and of course allow you to enjoy much more fulfilling vacations to many incredible Latin American countries.