Greater Dallas Hispanic Chamber of Commerce, Business, and Community Information

In the year 2000, the number of Hispanics in the Dallas/Ft. Worth area numbered 1.1 million, growing steadily to 1.5 million in 2005 and 1.7 million in 2006. The Texas State Data Center projects that the DFW Hispanic population will grow to 9.6 million by the year 2040.

The Hispanic portion of the total DFW population is expected to swell from 21.7 percent in 2000 to 55.6 percent by the year 2040. Although Hispanic growth in past years has been fueled primarily by immigration, fertility and mortality rates now comprise a larger proportion of Hispanic growth – suggesting that the children of immigrants will fuel the Hispanic population growth into the future.

DFW Latino Buying Power

The dramatic Latino population growth in Dallas/Ft. Worth has translated into significant consumer buying power as well. According to the Dallas/Ft. Worth Latino Trendline, Hispanic buying power more
than doubled from $8 billion in 2000 to $18 billion in 2005.

Using data from the Selig Center for Economic Growth, the estimated buying power for DFW Hispanics will grow to $27 billion by the year 2010.

A common misconception is that much of this buying power leaves the U.S. through remittances that immigrants send to families in their home countries. However, nearly 80 percent of their earnings are spent in the U.S.

DFW Latino Owned Business

Dallas/Ft. Worth Latinos place great value in entrepreneurship. According to the Census Bureau’s Survey of Minority-Owned Business Enterprises (conducted every five years), 10,000 to 12,000 Latino-owned firms have been added to the metropolitan area every five years since 1987. Starting with 9,196 in the year 1987, Latino-owned firms grew by 118 percent to 20,053 in 1992; by 60 percent to 32,154 in 1997; and by 40 percent to 44,952 firms in 2002.

Assuming the same annual rate of growth and economic conditions, Rincon & Associates estimates the number of Hispanic-owned firms to be 55,190 in 2006. Entrepreneurship is a popular career option for groups with high concentrations of immigrants, who often encounter many barriers in the employment world.