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An article by Arizonian Jack Dunning explains why Hispanics have been less affected by the recession than other non-Hispanic Americans. Using recent studies by Univision and the Pew Hispanics, he points to some results:

Just 45 percent of Hispanics carry credit cards compared to 71 percent for non-Hispanics. And even a lesser amount take out loans, only 34 percent versus 53 percent for non-Hispanics. They shop more frequently than non-Hispanics, take more brand prescriptions, and pay more attention to advertising.

With less credit cards and loans comes less debt. And because Hispanics are more likely to rent homes than to own (44% vs. 23%), they have been less affected by foreclosures.

All of these reasons might be why Hispanics are more optimistic about the state of the economy than non-Hispanics, and a reason why Hispanics are more willing to spend. Buying power for Hispanics is increasing at twice the rate of non-Hispanics, and it’s impossible for companies and advertisers not to take notice. Simply translating marketing materials (Hispanics are 38% more likely to buy from an advertiser than non-Hispanics [Index 131 to 95], according to Univision) will bring your business one step closer to accessing a powerful sector of the U.S. economy.

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