Hispanic Millennials are the second-largest group of Spanish-speaking Americans, and 17% of total U.S. Millennials. And the median age of Hispanic Americans is 27 to 37. Joe Gutierrez, head of strategic planning and managing director of Pinta revealed the findings, among which is that the Hispanic Gen Yers are bicultural Americans, home oriented, with 20% living in multi-generation homes, and big spenders. Hispanic Gen Yers have a strong identity as bicultural, want to stand out and be recognized as Hispanic and focused on Latino culture. “And they have a big influence on family purchase decisions,” said Gutierrez, adding that 22% of Hispanic Millennials help with family finances versus 9% of Non-Hispanic Millennials; they assist elders in their homes with language and with maneuvering the U.S. system.
Hispanic Millennials are also entrepreneurial by nature, partly because they are optimistic about their futures and confident in the U.S. government. Hispanic entrepreneurs are starting and growing businesses faster than any other ethnic group in the country, according to the report by Geoscape and the U.S. Hispanic Chamber of Commerce. By the end of this year, there will be 3.22 million Hispanic-owned businesses in the country, a 43 percent increase since 2007.