America is embracing Hispanic culture, and investors should too. The Hispanic population is the fastest growing segment of the U.S. population, and according to the most recent Census Bureau release Hispanics now comprise 15 percent of the total population or some 45 million people. Furthermore, it is projected that by 2050 Hispanics will make up 25 percent of the total U.S. population. There are numerous ways in which investors can embrace and profit from the emergence of Hispanic culture in America. I will mention a couple.
Real estate investors in particular can capitalize on this trend is by making their rental properties more Hispanic-friendly. Advertise and use signage with both English and Spanish. If you are having a property manager service your property, why not find one that is bi-lingual? A bi-lingual property manager would be able to capitalize on both English and Spanish speaking tenants, offering you more coverage. Depending on your location—California and Texas in particular—you might think about pulling out all the stops to make your rental Hispanic-friendly.
There are many businesses one could start that take advantage of this growth. One of the more interesting ones to my mind was included in our Business Ideas article, namely the creation of bi-lingual call centers in Latin America that service the U.S. population. There is a plethora of bi-lingual natives in Central America in particular that offer cheap labor. How long do you think it will be before U.S. companies stop outsourcing call center business to places like India, where labor is rapidly becoming more expensive? In addition to rising costs in places like India, there is also the difference in time zones, which isn’t a problem in Latin America. Labor might be a tad more expensive, but it is well worth it when you can have employees who speak the top two languages in the U.S. and who reside in the same time zone as you.
No matter what business or type of investment you’re in, there is probably a way which you can better cater to the Hispanic population. Investors who embrace this culture stand to do well in coming years, while those who ignore it could have serious regrets.