The Spanish-speaking population is one of the fastest-growing economic segments in the world—especially in the United States. The Spanish-speaking community shares a broad culture, despite its differences, and therefore many products and services. This common culture offers businesses and institutions a truly unique growth opportunity. Here are some important facts regarding the Spanish language:
- Spanish is an official language in 20 countries—plus the US Territory of Puerto Rico—and is the third most widely spoken language in the world, after English and Mandarin.
- There are more than 450 million native Spanish speakers worldwide.
- More than 40 million people in the United States speak Spanish as a first language.
From a commercial point of view, no business—large or small—can afford not to have a Spanish version of their website. The purchasing power of US Hispanic households was estimated in 2019 at more than US$1.5 trillion. As a market, Hispanics cannot be neglected by any business hoping to thrive in the 21st century.