US Latinos Continue to Experience a Digital and Financial Divide.

A survey of 700 Hispanic adults in 7 US cities has provided great insight into some of the principal struggles of the Latino community and identifies key areas for businesses to further activate the steadily developing Latino market, according to a PODER magazine.

According to the survey, only 59% of US Latinos own a computer — and even fewer (57%) have access to the Internet. Additionally, it was found that Hispanics are far behind the curve when it comes to utilizing the primary vehicle for generating long-term wealth — the financial markets. Today, only 22% of US Hispanics are invested in stocks or bonds, compared to 79% of non-Hispanic Caucasians, according to a recent Schwab study. Three key reasons are attributed to this lag in information access and financial investment: current income levels, attained educational level, and cultural cynicism about investing.

The survey was conducted in November by Westhill Partners, a New York-based communications consulting firm. These insights were revealed n a story authored by Alexander Jutkowitz, President of Westhill Partners and a regular columnist in PODER.

“This information is shocking and, in many ways, disappointing,” said Jutkowitz — an expert in Latino marketing and a Latin American political consultant, “but, I think that this also presents a genuine opportunity for smart businesses willing to address the financial, educational and cultural sources of the digital divide.”

One road to solving this problem, according to Jutkowitz, is through Hispanic businesses doing a better job communicating with their rank-and-file employees.

“Technology enables people to connect with information and society. Investments enable people to have a secure future. The fact that US Latinos currently do not enjoy the same level of access needs to be a call to action for the Hispanic business community to become involved.” Among the encouraging data found in the study was that Hispanics feel optimistic about the future and do have some of the “creature comforts” of a well-off existence.

— A full 68% of non-home owners plan to purchase their own place in the near future.

— 57% of US Hispanics already own one car, 43% own two or more, and remarkably, 60% of these vehicles were purchased in the last three years.

“What this shows is that if equipped with the necessary tools, the Latino market is primed to take-off,” said Jutkowitz. “Once a marketer, an employer or a colleague takes the time to truly understand the underlying factors at play, they can simultaneously educate and market to the US Latino.”